10.27.19
Several experts have raised concern about financial stability issues as the market transitions from LIBOR, the current interest rate benchmark. Some have suggested that banks are not taking the 2021 deadline seriously enough, while others argue that the Secured Overnight Financing Rule (SOFR), the replacement rate recommended by the Alternative Reference Rates Committee, could cause lenders to pull back on credit. Still others suggest that the transition is overblown.
Read more via American Banker.