On April 21, the Alternative Reference Rates Committee (ARRC) released an update of its best practice recommendations on the scope of use of Term SOFR. The latest publication provides market participants with additional guidance for hedging Term SOFR risk and is an update of its July 2021 recommendations. According to the ARRC, the latest refinement is intended to allow end-users to enter into Term SOFR versus SOFR basis swaps regardless of whether they are hedging cash assets linked to the rate.
AARC Releases Update of Term SOFR Scope of Use Recommendations
Published on April 28, 2023
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