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​LIBOR Transitions to SOFR

Changes to benchmark reference rates announced by the British Financial Conduct Authority in 2017 are underway, affecting FHLB Dallas members and markets affected by London Interbank Offered Rate (LIBOR). LIBOR may no longer be available and/or reliable for financial institutions after 2021. Secured Overnight Financing Rate (SOFR) is the recommended alternative by the Alternative Reference Rate Committee (ARRC). The Federal Reserve Bank of New York publishes SOFR rates daily. Visit this page frequently for resources and more about SOFR as articles and new information are added or click the "email sign up" to be notified of updates.

FHLB Dallas Launches SOFR-Linked Advance

FHLB Dallas is pleased to announce the availability of the new SOFR-Linked advance, a fixed-term, floating-rate, non-amortizing advance that is indexed to SOFR. Read about what it is and how it works in bulletin No. 2019-29, the following white paper or product sheet.

Informational Articles

FDIC Supervisory Insights Winter 2018

View information on transitions in financial instrument reference rates.

LIBOR to SOFR: What Financial Institutions Need to Know

Explore tips to help financial institutions prepare for the change and more in the following article from the latest issue of Dividends.

Alternative Reference Rates Committee

Learn about the private-market participants group assembled by the Federal Reserve Board and the New York Fed.

FAQs and Other Resources

SOFR Frequently Asked Questions

Read the most frequently asked questions on the LIBOR and SOFR transition.

LIBOR Transition Checklist

Use this practical checklist published by the Alternative Reference Rates Committee to encourage operational readiness for the LIBOR transition at your institution.

LIBOR/SOFR Transition Webinar

View this informative video to learn more about the LIBOR transition.

*The Federal Reserve Bank of New York began publishing 90-day SOFR averages starting on March 2, 2020. There is no published average data before that date.

This material is presented for general informational purposes only; this material should not be considered a recommendation of any particular strategy or advice of any kind. This material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment or other decisions. The content contained herein is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. You assume the entire risk related to your use of material presented herein for yourself or on behalf of any other person, including use of the material for a financial instrument or transaction or any other commercial activity. To the maximum extent permitted by law, you hereby release and waive all claims against the Federal Home Loan Bank of Dallas, and its officers, agents, and employees from any and all liability for claims, damages, costs, and expenses (including litigation costs and attorneys’ fees) of every kind and nature arising from or in any way related to your use of this material. Always consult a financial, tax and/or legal professional regarding your specific situation. The Federal Home Loan Bank of Dallas may alter the material, including removal of material, at any time without notice.

Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. This material provides hyperlinks to such third-party web sites for your convenience. These linked web sites are maintained by independent third parties that are not affiliated with the Federal Home Loan Bank of Dallas. Although we believe the information from these organizations is reliable, the Federal Home Loan Bank of Dallas does not guarantee or warrant their web sites’ accuracy, completeness or suitability for any purpose.

LIBOR Timeline Available

Click here for the latest LIBOR/SOFR transition timeline from ARRC.

ARRC Recommended Best Practices for Completing the Transition from LIBOR

Click here for more information on ARRC recommended best practices.


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