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The Federal Reserve Bank of New York (the "NY Fed"), in cooperation with the Treasury Office of Financial Research, will publish Secured Overnight Financing Rate ("SOFR") compounded averages.
within Intellectual Property, International Law, Litigation and Mediation & Arbitration topic(s)
The Federal Reserve Bank of New York (the "NY Fed"),
in cooperation with the Treasury Office of Financial Research, will
publish Secured Overnight Financing Rate
("SOFR") compounded averages, as well as an index for
three tenors, beginning on March 2, 2020.
As
previously covered, the NY Fed will publish compounded SOFR
averages for the prior 30, 90 and 180 calendar days. The daily SOFR
index will consist of SOFR compounded over a period beginning on
the first publication date of SOFR and ending on the index
publication date. Market participants will be able to determine a
compound SOFR average over a custom period by entering the index
values for the first and last days of the custom period into a
formula provided by the NY Fed.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
