Today marks the inaugural publication of Secured Overnight Financing Rate (SOFR) Averages and a SOFR index by the Federal Reserve Bank of New York (New York Fed).  The New York Fed is now publishing three daily compounded averages of SOFR:

    • 30-day Average SOFR,
    • 90-day Average SOFR and,
    • 180-day Average SOFR.

In addition, a daily index is publishing which allows for the calculation of compounded average rates over custom time periods.  SOFR is the recommended alternative to U.S. dollar (USD) LIBOR by Alternate Reference Rates Committee (ARRC).  The publication of this SOFR information is ahead of the schedule communicated originally by the New York Fed and is an important step in the transition away from LIBOR in the financial industry.

Link to New York Fed SOFR Averages and Index Data Page