DTCC Launches New LIBOR Benchmark Replacement Index

On March 13, the Depository Trust & Clearing Corporation (DTCC) announced its centralized solution, the LIBOR Benchmark Index, has been added to its Legal Notice System (LENS) to aid the transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) as well as other new reference rates. This new feature will allow market participants to view replacement rate information submitted by issuers, trustees and agents on debt securities that currently reference USD LIBOR.

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