Bangladesh eyes SOFR as LIBOR goes dead in January
Published 19 Sep,2021 via The Financial Express - The government is working out transition, prospect and risk of SOFR-based borrowing as the incumbent LIBOR-based lending will be discontinued from January 2022.
Finance ministry has asked the economic relations division (ERD) to scrutinise this transition, officials said on Saturday.
The SOFR (Secured Overnight Financing Rate), the new global benchmark for setting interest rates on commercial and consumer loans, will replace the LIBOR (London Interbank Offered Rate), introduced in 1986.
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The Financial Express