The New York Federal Reserve began publishing the Secured Overnight Financing Rate (“SOFR”) today. The first ever rate published by the Fed came in at 1.80%. Here is a comparison of other short-term rates:
- SOFR: 1.80%
- Fed Funds: 1.68%
- 1 Month USD LIBOR: 1.8775%
- 3 Month USD LIBOR: 2.3208%
You can read more about SOFR here.