Financial Services Financial Services

US Libor alternative may not get forward-looking rate despite proposal request

By Neil Roland
  • 30 Sep 2020 16:29
  • 30 Sep 2020 16:29
US banks and investment firms hoping for a forward-looking Secured Overnight Financing Rate to replace Libor might not get it, despite an official request for proposal issued this month, a US Federal Reserve official said.
New York Fed General Counsel Michael Held said there is no guarantee that the Fed-sponsored

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Neil Roland

Senior Correspondent


Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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