What If Market Snubs SOFR As New Benchmark Interest Rate?
Law360 (June 30, 2021, 2:09 PM EDT) -- Libor is being phased out as a result of the U.K. Financial Conduct Authority's prior announcement that it will no longer require banks to provide Libor estimates. The change coming on the heels of the 2012 Libor manipulation scandal and the fact that the Libor benchmark has been based on fewer and fewer transactions. The general sentiment is that all these facts make Libor a decreasingly reliable benchmark for the global financial markets. On March 5, Libor's administrator, the ICE Benchmark Administration set out clear end dates for U.S. dollar Libor, noting it will cease publication of overnight, one-, three-, six-...  Stay ahead of the curve  In the legal profession, information is the key to success. You have to know whats happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. Access to case data within articles (numbers, filings, courts, nature of suit, and more.) Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc. Create custom alerts for specific article and case topics and so much more! TRY LAW360 FREE FOR SEVEN DAYS