Editing Libor (section)

==== Secured Overnight Financing Rate ====
In June 2017, the ARRC announced a broad Treasury repo financing rate, [[SOFR]], as its recommended alternative to the USD LIBOR. In its justification for this choice the ARRC said:

{{Blockquote|SOFR is a fully transactions based rate that will have the widest coverage of any Treasury repo rate available and it will be published on a daily basis by the Federal Reserve Bank of New York beginning April 3, 2018. Because of its range of coverage, SOFR is a good representation of the general funding conditions of the overnight Treasury repo market. As such it will reflect an economic cost of lending and borrowing relevant to a wide array of market participants active in these markets, including broker dealers, money market funds, asset managers, insurance companies, securities lenders and pension funds.<ref>{{Cite web|url=https://www.newyorkfed.org/medialibrary/Microsites/arrc/files/2018/ARRC-second-report-press-release|title=ARRC Releases Second Report on Transition from LIBOR|access-date=14 May 2018}}</ref>}}