Alternative Reference Rates Committee: Difference between revisions

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imported>Doug Williamson
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(ARRC).
(ARRC).


"The ARRC is a group of private-market participants convened by the Federal Reserve Board and Federal Reserve Bank of New York in cooperation with the US Department of the Treasury, the US Commodity Futures Trading Commission, and the Office of Financial Research, to identify a set  of  alternative  reference  interest  rates  that  are  more firmly  based  on  transactions  from  a robust underlying market and that comply with emerging standards such as the IOSCO Principles for  Financial  Benchmarks, and  to  identify  an  adoption  plan  with  means  to  facilitate  the acceptance and use of these alternative reference rates." -  https://www.newyorkfed.org/arrc
The former Alternative Reference Rates Committee convened by the Federal Reserve Board and the New York Fed to help ensure a successful transition from US dollar (USD) LIBOR to a more robust reference rate, its recommended alternative, the Secured Overnight Financing Rate (SOFR).  


The ARRC works with industry participants for an orderly transition to SOFR from LIBOR to ensure the successful implementation of the Paced Transition Plan.
It was wound up in November 2023, having announced a successful transition from USD LIBOR.
 
It serves as a forum to coordinate and track planning across cash and derivatives products and market participants currently using USD LIBOR.




==See also==
==See also==
*[[Federal Reserve]]
*[[Canadian Alternative Reference Rate Working Group]]  (CARR)
*[[IOSCO]]
*[[Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks]]
*[[Federal Reserve Board]]
* [[International Organization of Securities Commissions]] (IOSCO)
*[[LIBOR]]
*[[LIBOR]]
*[[National Working Group on Swiss Franc Reference Rates]]
*[[New York Fed]]
*[[Paced Transition Plan]]
*[[Paced Transition Plan]]
*[[Reference rate]]
*[[Reference rate]]
*[[Risk-free rates]]
*[[Risk-free rates]]
*[[SOFR]]
*[[SOFR]]
* [[Steering Committee for SOR & SIBOR Transition to SORA]]  (SC-STS)
*[[USD LIBOR]]
*[[Working group on euro risk-free rates]]
*[[Working Group on Sterling Risk-Free Reference Rates]] (RFR WG)
==External link==
*[https://www.newyorkfed.org/arrc Alternative Reference Rates Committee - about us]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Financial_products_and_markets]]
[[Category:The_business_context]]

Latest revision as of 07:07, 1 February 2024

US interest rate benchmarks.

(ARRC).

The former Alternative Reference Rates Committee convened by the Federal Reserve Board and the New York Fed to help ensure a successful transition from US dollar (USD) LIBOR to a more robust reference rate, its recommended alternative, the Secured Overnight Financing Rate (SOFR).

It was wound up in November 2023, having announced a successful transition from USD LIBOR.


See also


External link

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