
ARRC Chair Tom Wipf and Nate Wuerffel of the New York Fed on the benefits of SOFR vs. other rates.Know your Libor replacement term rate inside and out. That was the message delivered to regional bank treasurers by top officials leading the effort to replace USD Libor that has led to the development of the secured overnight financing rate (SOFR). More than $200 trillion in transactions are priced over Libor, but the interbank lending market on which the floating-rate benchmark…