The Board of Governors of the Federal Reserve System ("FRB") will publish three new benchmark interest rates based on overnight repurchase agreement ("repo") transactions backed by Treasuries.
As previously covered, the following rates will be produced by the Federal Reserve Bank of New York in coordination with the Office of Financial Research:
In response to comments received, the FRB adjusted the expected daily publication time and will publish the rates no later than 8:00 a.m. Eastern Time. Publication of the rates is expected to begin in the second quarter of 2018.
The Board of Governors of the Federal Reserve System is seeking comments on three proposed reference rates based on repurchase agreement transactions backed by Treasuries.
Chief Executive of the UK Financial Conduct Authority Andrew Bailey unveiled a plan to phase out the London Interbank Offered Rate by the end of 2021.