Time to end debate on SOFR alternatives, participants warn
Doubt over future of five credit-sensitive Libor replacements may be hindering late-stage Libor transition
Ongoing debate over which credit-sensitive rate will replace US dollar Libor in lending markets needs to be “shut down”, according to two industry participants who fear the uncertainty is hindering transition with just six months left until the legacy benchmark is prohibited for use in new contracts.
“In the US, we’re still having debates about what the right rate is. That really slows people up,” said Phil Lloyd, head of customer sales delivery at NatWest Markets. “The sooner that conversation
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