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Libor and why treasurers have their finger on the ‘pre-cessation’ trigger

Financial firms can’t seem to come to an agreement on the unofficial “pre-cessation” trigger that will signal the beginning of the end for Libor. Meanwhile, SOFR faces some controversy.
Libor and why treasurers have their finger on the ‘pre-cessation’ trigger

By the end of the next year, the London Interbank Benchmark Offered Rate (Libor) should be phased out and is expected to replaced by one of three potential alternatives – the Secured Overnight Financing Rate (SOFR) in the United States, the Sterling Overnight Index Average (SONIA) in the United Kingdom and the Euro short-term rate (€STR) in the rest of the European region.

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