In April 2018, the Federal Reserve released a new U.S. benchmark rate called the Secured Overnight Financing Rate, or SOFR. The SOFR is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. Over the past 30 days, the SOFR has generally ranged between 1.90% … [Read more...] about 7.20.18: What Will Replace the LIBOR Index?
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