Markit launches credit-sensitive SOFR alternatives
Crits can be used as add-on to SOFR, while Critr will be a standalone benchmark
IHS Markit has launched a pair of new rates benchmarks that aim to replicate the funding and credit components of Libor, making it the third major index provider to offer a credit-sensitive alternative to the secured overnight financing rate, or SOFR.
The twin benchmarks, released today (June 1), are constructed from bank funding data reported to the Depository Trust and Clearing Corporation (DTCC) and bond transactions tracked by Finra. The US dollar Credit Inclusive Term Rate, or Critr, is
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