SOFR term rate

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Interest rates - reference rates - forward-looking benchmarks - USD - SOFR.

Term SOFR refers to a forward-looking benchmark interest rate, based on the USD Secured Overnight Financing Rate (SOFR), as published by the New York Fed.

SOFR term rate widely welcomed
"USD Markets have been busy over the Summer, and it’s beginning to feel as it the direction of travel [in USD LIBOR transition] is more aligned.
In particular, the recommendation of a SOFR Term rate has been widely welcomed and should reduce the demand from some parts of the market for credit sensitive rates (such as BSBY) as an alternative to LIBOR."
Status Update – LIBOR transition - Sarah Boyce - Association of Corporate Treasurers - 07 September 2021

See also