ARRC’s Wipf ‘puzzled’ by appeal of Libor-like benchmarks

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The head of an industry group tasked with leading the transition away from US dollar Libor has urged market participants to be wary of adopting any replacement rate “that just feels like Libor”.

“Why that would be appealing after all we’ve been through, I have no idea,” said Tom Wipf, chair of the Federal Reserve-backed Alternative Reference Rates Committee. “I find that quite puzzling.”

Lenders and issuers are exploring a growing array of credit-sensitive alternatives to regulators’ preferred

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