US Treasury Official: Considering issuing debt linked to new reference rate

Dhwani Mehta FXStreet

A US Treasury official made a statement last minutes that the Treasury Department is considering issuing debt linked to new reference rate, the Secured Overnight Financing Rate (SOFR).

No further details are offered on the same.

As cited by the New York Fed, the SOFR is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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