Some experts think the Federal Reserve Bank of New York Secured Overnight Finance Rate has the best chance of being the replacement. Why replace it? The London Banks lied. It is scandal-plagued.
Something must be done by the end of 2021. LIBOR is to be phased out by then. It will be interesting to see what happens years from now when adjustable rate loans were to adjust according to LIBOR.
Become learned: https://www.housingwire.com/articles/48223-could-a-forward-looking-sofr-be-libors-best-replacement
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