After June 30, U.S. Bank will replace three-month LIBOR with three-month CME term SOFR as the reference rate for certain outstanding floating rate or fixed-to-floating rate debt securities, preferred stock represented by depositary shares, income trust securities and preferred stock. read more

MAY 17, 2023 - 7:07 am

The FASB issued a proposed Accounting Standards Update (ASU) that would extend the period of time preparers can utilize the reference rate reform relief guidance and expand the SOFR-based interest rates available as benchmark interest rates. read more

APR 21, 2022 - 7:34 am

LTi Technology Solutions will now provide support for the LIBOR to SOFR transition in all versions of its flagship product, ASPIRE V5. While the official end of LIBOR is still several months away, LTi is taking this action now with the goal of ensuring efficient replacement. read more

JAN 25, 2021 - 6:28 am

The Wall Street Journal reported that the Federal Reserve will not use the Main Street Lending Program to promote SOFR, its LIBOR replacement of choice. read more

MAY 4, 2020 - 6:50 am

As the 2021 end of the LIBOR approaches, banks, accountants and regulatory bodies are still struggling to find a replacement standard that is immune to the same manipulation that brought about LIBOR’s demise, reports Bloomberg Tax. read more

MAR 25, 2019 - 6:55 am

Bloomberg reported that Libor is attempting to fend off a challenge to its throne as the global benchmark for dollar-based assets from suddenly scrutinized SOFR. read more

MAY 7, 2018 - 6:55 am