The Alternative Rates Reference Committee developed a Secured Overnight Financing Rate ("SOFR") "Starter Kit" to provide information about the transition from LIBOR to SOFR.
The starter kit contains three fact sheets: (1) Background on USD LIBOR, (2) How SOFR Works and (3) SOFR Best Practices. The new publications are part of a series of informational initiatives intended to ensure market readiness for transition away from LIBOR.
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.
