A Rate for Main Street: Why Commercial Banks Urgently Need Credit-Sensitive Benchmark Interest Rates
It’s 2024. Do you know what your overnight borrowing costs are? For many regional and community banks, the answer is no – and poor regulatory guidance is a primary cause. After years of manipulation scandals, the LIBOR interest rate was thankfully officially discontinued on June 30, 2023. At last, financial institutions had an opportunity to […]
With LIBOR’s Long-Awaited Sunset, the Future of Interest Rate Benchmarking Must Be Defined by Choice
With LIBOR’s Long-Awaited Sunset, the Future of Interest Rate Benchmarking Must Be Defined by Choice By John Shay, CEO, American Financial Exchange As of June 30, 2023, a chapter in financial markets history has come to an end. The London Interbank Offered Rate (LIBOR), once a crucial benchmark for the overnight lending market, has been […]