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Term’s time has come

Libor transition updatesSign up to myFT Daily Digest to be the first to know about Libor transition news. We’ve written before about why the lack of an officially endorsed term rate for US dollar Libor is a particularly thorny issue — even when placed against the many-pronged rose bush that is Libor transition.No longer. Or not much longer, at least. On Monday the market convention for dollar-denominated swaps will switch from Libor to the Secured Overnight Refinancing Rate, or Sofr. That’s ahead of a move in late October that’ll see Libor disappear from the screens of interdealer brokers entirely. The shift will, according to Tom Wipf, head of the Alternative Reference Rates Committee (ARRC), the official body for ditching dollar Libor, pave the way for them to back a

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Libor transition updates

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