CAREERS Sign In LIBOR Transition | CoBank - CoBank Site LIBOR Transition In 2018, the Federal Reserve’s Alternative Reference Rate Committee (ARRC) selected the Secured Overnight Financing Rate to replace USD LIBOR, the main reference rate used in credit instruments in the U.S. With more than $200 trillion of financial instruments based in USD LIBOR, the transition to an alternative reference rate should be followed closely. CoBank and the Farm Credit System have been working diligently with several bodies responsible for providing feedback on the functionality of the financial system with a new reference rate. This page features some educational materials and resources to learn more about LIBOR and potential changes coming to the industry. Announcement on Future LIBOR Cessation and Loss of Representativeness Life After LIBOR: Is the LIBOR Transition for Business Loans Finally Accelerating? Borrowers are frustrated by the selection of SOFR as the recommended alternative reference rate for USD LIBOR Lenders are critical of the structure of SOFR Some are critical of SOFR interest calculation methodologies that include daily compounded interest calculations There is inconsistency between the SOFR derivative markets Several factors have changed the characteristics and volatility levels of SOFR Read The Report Previous Reports May 2019: Life After LIBOR: Understanding SOFR and Next Steps in the Transition March 2019: Life After LIBOR: What it is, what are its problems and what might be next Resources Farm Credit Administration News ICE Benchmark Services International Swaps and Derivatives Association International Swaps and Derivatives Association Committees New York Federal Reserve Alternative Reference Rate Committee Announcements Secured Overnight Financing Rate Data Term SOFR Rates U.S. Commodity Futures Trading Commission Market Risk Advisory Committee Interest Rate Benchmark Reform Subcommittee Questions and Answers What is LIBOR? How important is LIBOR? What is changing with LIBOR? Has an alternative reference rate been proposed? What's next in the LIBOR transition process? What is CoBank doing with regard to this issue? ABOUT COBANK CoBank is one of the largest private providers of credit to the U.S. rural economy. The bank delivers loans, leases and other financial services to agribusiness, rural infrastructure and Farm Credit customers in all 50 states. KNOWLEDGE EXCHANGE Animal Protein Communications Dairy Grain & Farm Supply Power, Energy & Water Specialty Crops The Quarterly Report General Topics RESOURCES CoLink® Association Portal Fraud Prevention Leasing Portal LIBOR Transition Vendor Management CONTACT US CoBank National Office 6340 S. Fiddlers Green Circle Greenwood Village, CO 80111 800-542-8072 More Contact Information ©2011-2021 CoBank. All Rights Reserved. Farm Credit is an Equal Housing Lender, and an Equal Credit Opportunity Lender. Conditions of Use | Privacy Policy | California Consumer Privacy Statement | HR Privacy Notice for California Residents | Anti-Money Laundering CoBank Code of Ethics | Confidential Hotline 1-888-525-5391 or online at cobank.ethicspoint.com