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Sneak Preview in the Works for Timing of U.S. Libor Alternative

  • Reference rates commitee meets Aug. 1 to discuss timeline
  • Markets have ‘very significant’ risks ahead, Crandall says
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Loomis Sayles' Fuss Weighs in on U.S. Libor Alternative

With a little luck, financial markets may get a better sense of how soon they’ll be transitioning to the potential U.S. candidate to replace Libor.

A Federal Reserve-sponsored group that has been working on an alternative is slated Tuesday to discuss the timing of the release of the measure. The new rate, which the New York Fed plans to begin publishing daily sometime in the first half of 2018 in cooperation with the Treasury Department’s Office of Financial Research, eventually could be the benchmark for pricing some $350 trillion of U.S. derivatives, student loans, home mortgages and many other types of credit.