LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
CHARLOTTE, N.C., May 26, 2023 /PRNewswire/ -- Truist Financial Corporation (TFC) announced today that, after June 30, 2023, CME Term SOFR will be the replacement reference rate for certain outstanding ...