Duane Morris·BANKING / FINANCE

Term SOFR formally recommended; swaps gap remains

ARRC formally backed CME's forward-looking Term SOFR rates, but CME's terms bar creating Term SOFR derivatives, leaving borrowers to hedge with regular SOFR swaps and accept basis risk.

liborterm-sofrarrccmeinterest-rate-swapbasis-riskloan-transitionbenchmark-replacement

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