The Fed's Alternative Reference Rate
Committee recommended SOFR as the main rate, which will be published beginning on April 3 at 08:00 ET, reflecting the SOFR, BGCR, and TGCR from April 2.
This is also reflected in two general recommendations of the Financial Stability Board (FSB) that aim to guide the reform of the reference rate
and the transition to alternative benchmarks.
and its affiliates, a part of HSBC Holdings Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005), have said that they have increased their prime and reference rate
The Reserve Bank of India has fixed the reference rate
of the rupee at 66.
The move was part of the central bank's stated aim to bring the currency reference rate
in line with the offshore exchange rate.
TOKYO, Nov 2 (KUNA) -- China's central bank on Monday raised the reference rate
for the Chinese yuan (renminbi) against the US dollar by the biggest one-day gain in 10 years.
Chinese authorities keep a tight grip on the currency and it is only allowed to fluctuate up or down two percent on either side of the reference rate
The reference rate
is set by the Central Bank every three months and if exceeded it is considered a violation of the law.
The London Interbank Offered Rate (LIBOR) is the reference rate
at which large banks indicate that they can borrow short-term wholesale funds from one another on an unsecured basis in the interbank market.
Nordea applies the prime rate as a reference rate
both in deposits and in housing loans.
The 1993 System of National Accounts recognized that some implicit intermediation services are provided to borrowers, and it measured these services based on the margin between loan rates and a reference rate
that represented the bank's opportunity cost of funds.
This new reference rate
is still far stronger than the value of the Rial in the country's unofficial market rate of 33,000 Rials, a rate at which most Iranians can access hard currency.