SOFR Subject : Economics Context : SBI and IOCL ink $100 million first SOFR linked deal in the ECB market. Concept : The secured overnight financing rate (SOFR) is a benchmark interest rate for dollar-denominated derivatives and loans that is replacing the London interbank offered rate (LIBOR). SOFR is based on transactions in […]

    SOFR Subject : Economics Context : State Bank of India (SBI) has executed two inter-bank short term money market deals with pricing linked to SOFR (Secured Overnight Financing Rate). Concept : This follows the U.K.’s Financial Conduct Authority deciding not to compel banks on LIBOR calculation after December. SOFR is a replacement for […]