Rachel Witkowski is an award-winning journalist whose 20-year career spans a wide range of topics in finance, government regulation and congressional reporting. Ms. Witkowski has spent the last decade ...
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 ...
RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) and Discover Bank (collectively “Discover”) have certain outstanding preferred stock and debt securities, listed in this ...
About the authors: J. Christopher Giancarlo served as chairman of the U.S. Commodity Futures Trading Commission. He was previously an independent director of the American Financial Exchange, the ...
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Here’s how the Secured Overnight Financing Rate works and why it might matter for your mortgage
Remember Libor? For decades, the London interbank offered rate was the benchmark for pricing a wide variety of loans, ...
It has been an arduous process to get the financial system to stop relying on the tarnished interest-rate benchmark. By Joe Rennison The arduous, decade-long process to end the financial system’s ...
Amplify Samsung SOFR ETF remains a compelling cash substitute, offering exposure to overnight collateralized lending tied to the SOFR rate. SOFR's yield closely tracks the Fed Funds rate. Expected ...
From here on out, your consumer or business loan rate will be set by a new standard. Replacing Libor, the obsolete benchmark for loan rates, is SOFR, the Secured Overnight Financing Rate. Its full-on ...
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