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What was the LIBOR rate, and what happened to it?

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 ...
Business Wire

Replacement Rate for U.S. Law-Governed U.S. Dollar LIBOR-Linked Preferred Stock (and Related Depositary Shares), Debt Securities and Certificates of Deposit

NEW YORK--(BUSINESS WIRE)--Morgan Stanley (NYSE: MS) announced today that, except for the instruments identified below, the U.S. law-governed U.S. dollar LIBOR-linked preferred stock (and related ...
Seeking Alpha

Credit Suisse AG Announces CME Term SOFR As Replacement Reference Rate for Its Outstanding U.S. Dollar LIBOR-Linked Debt Securities

NEW YORK, June 9, 2023 /PRNewswire/ -- Credit Suisse AG (USOI) announced today that, following June 30, 2023, CME Term SOFR will be the replacement reference rate for its outstanding New York ...
Seeking Alpha

First Horizon Announces CME Term SOFR as Benchmark Replacement Rate for Certain Outstanding USD LIBOR Securities After June 30, 2023

MEMPHIS, Tenn., April 25, 2023 /PRNewswire/ -- First Horizon Corporation (FHN) (NYSE: FHN or "First Horizon") today announced that, after June 30, 2023, US dollar LIBOR will be replaced with CME Term ...