SOFR credit debate is “hindrance” to corporate transition
Libor Telethon 2020: NACT chair calls for clear path towards SOFR adoption before 2023 switch-off
Debate over a credit-sensitive alternative to the secured overnight financing rate, or SOFR, is hindering the transition from Libor, according to a senior corporate treasury official.
Tom Deas, chairman of the National Association of Corporate Treasurers, said the credit-sensitivity discussion “really is a hindrance at this point”.
He added corporate treasurers have swathes of Libor-linked commercial transactions with customers, suppliers and employees – all of which need to be transitioned.
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