Libor transition frailties exposed

Category: ABS


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The New York Fed has begun publishing the Secured Overnight Financing Rate (SOFR), a much-touted Libor replacement, despite industry participants suggesting that a thorough plan has yet to be made for the transition away from the benchmark. At the same time, there is concern over whether enough consideration has been given to the financial products tied to Libor - including securitisations - which will not mature by the Libor 2022 cut-off.

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