ARRC shuts down, with some questions still unanswered

Fed-backed group calls time on Libor transition with questions over term SOFR and CSRs still swirling

Closed for business

The Alternative Reference Rates Committee, the industry group tasked by the Federal Reserve with overseeing the phase-out of Libor in the US, is shutting down in a move widely seen as signalling the end of a critical period in the transition to replacement benchmarks.

The committee’s final gathering was on November 8, with a readout released earlier today (November 13) stating “this was the ARRC’s final meeting”.

After the meeting, which marked the end of nine years of Libor transition

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