Global Derivatives Get Leeway to Use Different Libor Successors – Bloomberg Tax

The $200 trillion derivatives industry is being given leeway to use benchmarks other than the one that’s long been promoted as the U.S. successor toLibor once the discredited benchmark is retired.

Banks and asset managers will be helped to trade securities pegged to Ameribor, an alternative to the Secured Overnight Financing Rate, Ann Battle, head of benchmark reform at the International Swaps and Derivatives Association, said in comments to Bloomberg. The global industry body now plans a similar approach for three other alternative reference rates.

The move complicates SOFR’s position as the preferred heir apparent to dollar…