OIS rate change easy to absorb, says Isda's O'Connor

Moving reference rate from Fed funds to GC repo rate to pose few problems

Stephen O'Connor
Stephen O'Connor

The US Federal Reserve's desire to change the underlying reference rate for US dollar overnight indexed swaps (OIS) from the federal funds rate to the general collateral (GC) repo rate will "easily" be absorbed into the market, according to the chairman of the International Swaps and Derivatives Association.

"In the US, the Fed has a preference to move away from Fed funds. I think the market will, as we have seen historically, be able to adapt relatively easily should it go to GC repo, and I

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