In global finance, interest rate benchmarks guide trillions in loans, derivatives, and investment decisions. For years, the London Interbank Offered Rate (LIBOR) was the go-to metric—until its credibility faltered. Today, SOFR—the Secured Overnight Financing Rate—has emerged as a robust, transaction-based benchmark. Administered by the Federal Reserve Bank of New York, SOFR reflects the true cost of borrowing cash overnight when loans are secured by US Treasuries.
8/13/2025, 4:17:09 PM