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Libra

  • LIBOR
    Fed’s Powell open to more than one Libor alternative

    Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

    By Hannah Lang
    February 12
    “A number of banks have come forward and said that they want to work on a separate rate, which would not replace SOFR, but would be credit sensitive, and so they're doing that now and ... we're working with them to support that process,” said Fed Chairman Jerome Powell.
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