With the London Interbank Offered Rate (LIBOR) getting discontinued in 2021, about $350 trillion of linked loans and derivatives segment are now to be linked to a new benchmark. There is a near consensus that the LIBOR will be replaced by the Secured Overnight Financing Rate (SOFR) for all dollar loans, but other benchmarks, too, are in the race.
Besides, India has its own benchmarks and the Indian Banks' Association (IBA) is working on a roadmap to guide banks and financial assets to get into those. Senior bankers said lenders are working on two aspects regarding the replacement of ...
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First Published: Thu, February 13 2020. 21:43 IST
