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Secured Overnight Financing Rate (SOFR), the designated replacement for the LIBOR rate, faced its first test recently.
In a recent survey, 96% of community bank CEOs named cybersecurity risk as a top concern.
The FDIC and OCC have proposed changes to CRA regulations.
We provide the latest update on the LIBOR to SOFR transition.
Banks will soon need to adjust their loans to a new benchmark known as the Secured Overnight Financing Rate (SOFR).
All banks should have the LIBOR-SOFR transition on their list and move it up in importance, as the 2021 deadline draws near.
The Fed has cut rates more for EBA than the fed funds target rate.
Even as branches are closing in rural areas, there are ways to support these customers and increase business.
Experts say there are ways that banks can share helpful information about cyber incidents, without divulging too much and violating privacy laws.
In short, it might not be as easy as simply inserting SOFR wherever the term LIBOR now exists.