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After Libor, Get Ready for SOFR

Chosen by a special Federal Reserve committee as its preferred alternative to Libor, the Secured Overnight Funding Rate is tied to "the extremely liquid, high-volume repo market,” Mission Capital Advisors' Jillian Mariutti tells GlobeSt.com.

By Paul Bubny | Updated on January 17, 2018

“There was no surprise that Libor as we knew it would have to change,” Mariutti says.

NEW YORK CITY—Libor, an index that underpins $350 trillion in financial contracts, has been a benchmark for global borrowing for nearly half a century. But it will soon go the way of BOAC and the Beatles, two British institutions that were still recent history when Libor was devised. Will the sunset of Libor in 2021 plunge lenders and borrowers into darkness and confusion? And what will take its place?

In the view of Jillian Mariutti, director at Mission Capital Advisors, the answer to the first question is no, because the writing has been on the wall since the Libor manipulation scandal of 2012.

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