Attorney Published Article
LIBOR Replacement: SOFR, So Good!Read Time: 1 min
Chris Couch (Birmingham) authored “LIBOR Replacement: SOFR, So Good!” in the Alabama Bankers Association November/December 2019 Board Briefs.
LIBOR (London Inter-Bank Offered Rate), the historic benchmark rate at which leading London banks borrowed from each other on a short-term basis, is being “phased out” and may not be available after 2021. Chris discusses the Secured Overnight Lending Rate (SOFR), a replacement index intended to address risk in existing loan agreements and to minimize the disruption associated with LIBOR’s end.