Libor-Replacement Competitor Gains Strength From New Offerings

Libor-Replacement Competitor Gains Strength From New Offerings - WSJ

Ameribor poses a challenge to the Secured Overnight Financing Rate. preferred by many Wall Street banks and regulators.

Financial industry pioneer Richard Sandor is ramping up his efforts to compete in the race to replace the London interbank offered rate. which helps set borrowing costs on everything from mortgages to business loans. Mr. Sandor—who helped create interest-rate futures in the 1970s and launched his own replacement for the scandal-marred short-term interest-rate benchmark in 2019—is expanding offerings to include one-month and three-month borrowing rates.

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