White Papers
In-depth analysis and educational resources covering interest rate hedging, defeasance, prepayment strategies, and market dynamics for commercial real estate borrowers.
Transitioning Swaps to SOFR
If you’re a borrower with floating bank debt that’s swapped, you may be wondering what happens when you transition to SOFR.
LIBOR Transition – What Happens to Your Hedge by June 2023?
If you have outstanding LIBOR based hedges, you might have started receiving reminders from your hedge providers prompting some sort of action.
Term SOFR vs Daily Simple SOFR - What’s the Difference?
What's the difference between SOFR & term SOFR? Learn more about about the technical differences between term SOFR vs Daily Simple SOFR here.
LIBOR vs SOFR
The financial industry aimed to create an alternative to LIBOR so ARRC announced the selected rate in 2017, the Secured Overnight Financing Rate (SOFR).
Agency SOFR Caps
With multifamily borrowers beginning to close on their first SOFR based loans, we wanted to provide an update with where things stood on Agency SOFR Caps.
SOFR Transition FAQs, Timeline and Events
In October 2020, ISDA released a Supplement which revises the 2006 Definitions to include robust fallback language in preparation for the transition to SOFR.
Existing LIBOR Cap or Swap? What to know about the 2020 LIBOR Fallback Protocol
If you have an existing LIBOR cap/swap, you may have received an email about Adherence to the 2020 IBOR Fallback Protocol. These emails include a guide on how to adhere.
ISDA SOFR - The Fallback For LIBOR Caps and Swaps
ISDA will be using SOFR + spread adjustment as the LIBOR replacement for contracts entered on or after 1/25/2021.
SOFR Rates For Dummies - A Helpful Overview in Layman's Terms
There are various SOFR rates/calculation methodologies, in this resource we touch on the differences between the various indices to help shed some light.
What Is BSBY (Bloomberg’s Short-Term Bank Yield) Index?
What is BSBY? Bloomberg’s Short-Term Bank Yield Index (BSBY) is an index calculated and published by Bloomberg as an alternative to SOFR.