
Iosco steps up scrutiny of credit-sensitive rates
Standard setter calls for rates to prove compliance through stress scenarios to retain hallmark

Providers of credit-sensitive alternatives to the secured overnight financing rate, or SOFR, have been warned that their use of a hallmark indicating compliance with global standards will be closely monitored, amid growing concern from regulators that the rates may not pass muster during times of stress.
The International Organization of Securities Commissions (Iosco) added its weight to growing regulatory scepticism over rates which veer from the Federal Reserve’s preferred US dollar Libor
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