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More Information Coming on Timing of U.S. Libor Alternative

UK regulators announcement last week seen speeding the process of replacing the benchmark.

By Alexandra Harris, Bloomberg | Updated on July 31, 2017

With a little luck, financial markets may get a better sense of how soon they’ll be transitioning to the potential U.S. candidate to replace Libor.

On Tuesday, a Federal Reserve-sponsored group that has been working on an alternative is slated to discuss the timing of the release of the measure. The new rate, which the New York Fed plans to begin publishing daily sometime in the first half of 2018 in cooperation with the Treasury Department’s Office of Financial Research, eventually could be the benchmark for pricing some $350 trillion of U.S. derivatives, student loans, home mortgages and many other types of credit.

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