In the US, it’s an even ‘tougher legacy’ for Libor

A legislative solution for cash products is in the works, but lawyers say it raises constitutional issues

Libor holding back

As Libor ambles towards possible extinction, the big financial centres are moving at different speeds away from the discredited benchmark.

Among the slowest is New York.

In the US, solutions to the post-Libor dilemma for cash products are light on the ground, even as the benchmark winds toward irrelevance at the end of 2021. The most obvious fix, directly converting to Libor’s US successor, the secured overnight financing rate (SOFR), or inserting the new rate as a backup, generally requires

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: