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MilitiaMan & Crew
Jul 1, 2023
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Today is the first day of July and there are changes in our financial systems around the world.
SOFR (Secure overnight financing rate) is taking over as early as today.
What Is the Secured Overnight Financing Rate (SOFR)?
The Secured Overnight Financing Rate (SOFR) is a benchmark interest rate for dollar-denominated derivatives and loans that replaced the London Interbank Offered Rate (LIBOR).
SOFR took the place of LIBOR in June 2023, offering fewer opportunities for market m**********n and current rates rather than forward-looking rates and terms.
https://www.investopedia.com/secured-overnight-financing-rate-sofr-4683954
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Source: Dinar Recaps
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