Secured Overnight Financing Rate (SOFR)

Representational image. Photo: ADEK BERRY / AFP
Banking

EDF loans get costlier as interest rate from now to be based on SOFR

Previously, the central bank would set the benchmark for fixing the interest rate on EDF loans.

FILE PHOTO: The JP Morgan logo is seen at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
Global Economy

Unilever, JP Morgan entered into $500 million corporate swap linked to new SOFR benchmark