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      Question

      LIBOR (London Interbank Offered Rate) is being replaced

      by ______________.
      A MIBOR b- Fed Rates Correct Answer Incorrect Answer
      B Rates by Bank of Japan Correct Answer Incorrect Answer
      C Secured Overnight Financing Rate Correct Answer Incorrect Answer
      D Secured Overnight Financing Rate Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      LIBOR, which stands for London Interbank Offered Rate, serves as a globally accepted key benchmark interest rate that indicates borrowing costs between banks. LIBOR is being replaced by the Secured Overnight Financing Rate (SOFR) on June 30, 2023, with phase-out of its use beginning after 2021.

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