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
Read the original firm alert →Friday, August 7, 2026