Tag: Overnight
Sterling Overnight Interbank Average Rate (SONIA): meaning, how it works and more
The London Interbank Offered Rate (LIBOR) used to be the dominant rate used to provide efficient interest rates in pound denominated loan and mortgage transactions. The LIBOR worked in a style where data is collected from the major banks and financial institutions to create the LIBOR as announced by the Financial Conduct Authority of the …
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Secured Overnight Financing Rate (SOFR): meaning, how it works & more
The global market has seen pivotal changes that have affected the general manner business is executed. One such change is the introduction of the Secured Overnight Financing Rate (SOFR) which has recently replaced the London Interbank Offered Rate (LIBOR) in the United States and most nations globally. This article seeks to offer clarity on the …
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