Quarles: SOFR Meets Regulatory Due Diligence Requirements

April 10, 2019 at 06:30PM

Regulatory agencies will expect banks to conduct thorough due diligence on the reference rates they use, but the Secured Overnight Financing Rate recommended as a replacement for the London Interbank Offered Rate has already undergone that due diligence, Federal Reserve Vice Chairman for Supervision Randal Quarles said at a public event today on the transition from Libor.

The post Quarles: SOFR Meets Regulatory Due Diligence Requirements appeared first on ABA Banking Journal.

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