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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 ...
JD Supra

The Last Days of LIBOR

Our Financial Services & Products Group discusses the status of the financial industry’s transition away from LIBOR, including the final rule identifying replacement benchmarks that was recently ...