LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...

MEMPHIS, Tenn., April 25, 2023 /PRNewswire/ -- First Horizon Corporation (FHN) (NYSE: FHN or "First Horizon") today announced that, after June 30, 2023, US dollar LIBOR will be replaced with CME Term ...

During the transition of the London InterBank Offered Rate (LIBOR) to the approved substitute benchmark in the United States, the Secured Overnight Financing Rate (SOFR), a basic question was raised ...

As if lenders didn’t have enough to deal with these days with the deluge of borrower requests for forbearance and payment relief, they continue to face a ticking clock on the transition away from ...

NEW YORK, June 9, 2023 /PRNewswire/ -- Credit Suisse AG (USOI) announced today that, following June 30, 2023, CME Term SOFR will be the replacement reference rate for its outstanding New York ...

As if they didn’t have enough to deal with, banks are faced with a succession of serious challenges over the next two years as they face up to the reality of the end of Libor. Firstly, they must ...

WOODLAND HILLS, Calif., Sept. 4, 2025 /PRNewswire/ -- Farmers Insurance Exchange (the "Farmers Exchange") today announced the following: In October, 2017, Farmers Exchange issued $400 million ...

Any reference to a specified source for USD LIBOR shall be replaced with the publication of the applicable Board-selected benchmark replacement (inclusive of the applicable tenor spread adjustment) by ...

During the London InterBank Offered Rate (LIBOR) transition, and post LIBOR’s end date of June 30, 2023, the goal for all should be that (1) the effective interest rates be generally economically ...