Libor and the $80 Trillion SOFR 'Big Bang'.
Description: #libor #sofr #banks #federalreserve #derivatives #leverage #risk #interestrates #referencerate #eurodollar #repo #TBTF #wallstreet #london #qe
Today we will look into the current transition away from Libor reference rates to the SOFR reference rate. This transition is happening over this weekend and is being called the "Big Bang" and could have an adverse impact on at least $80 trillion of off-balance sheet financial derivatives.
My video on Libor from February 2020 - LIBOR Risks Disrupting $400 Trillion Derivatives and Loan Markets.: https://youtu.be/Qh9s_2OxNEs
Banks brace for 'big bang' switch on $80 trillion worth of swaps: https://www.americanbanker.com/articles/banks-brace-for-big-bang-switch-on-80-trillion-worth-of-swaps
The Development of the Eurodollar Market: https://financetrain.com/the-development-of-the-eurodollar-market/
BBC to air recording that implicates Bank of England in Libor scandal: https://www.theguardian.com/business/2017/apr/10/libor-scandal-bbc-recording-implicates-bank-england
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