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An In-Depth Look At LIBOR & SOFR

The end of this year marks a big change for financial institutions worldwide with the elimination of LIBOR as a base rate. LIBOR, or London Interbank Offered Rate, has been around for almost fifty years as a reference rate, or index, that many banks around the world have relied on for a wide range of financial products. The upcoming elimination of LIBOR will affect banks and borrowers significantly.

This podcast discusses the role of LIBOR and its likely replacement, SOFR (Security Overnight Funding Rate). Topics include:

The products and services LIBOR impacts
The risk to banks and borrowers without LIBOR
SOFR as a potential replacement index in 2021

podcast video An In-Depth Look At LIBOR & SOFR

Featured Experts

Mark Meloy

Executive Vice President of First Business Financial Services, Inc.

Mark Meloy serves as Executive Vice President of First Business Financial Services, Inc., parent company of First Business Bank. He has enjoyed more than 40 years of commercial banking, joining First Business Bank in 2000 where he held various positions, including Chief Executive Officer, President, and Executive Vice President.

Ed Sloane

Consultant - Bank Consulting of First Business Bank

Ed Sloane is a consultant for First Business Bank’s Bank Consulting team who retired as CFO of First Business Financial Services, Inc., the publicly traded parent company of First Business Bank, on March 31, 2023.

Bill Uelmen

President - Bank Consulting of First Business Bank

Bill Uelmen comes to First Business Bank with over 25 years of Investment Portfolio and Asset Liability Management experience serving financial institutions in Wisconsin, Indiana, Tennessee, Georgia, Nevada, and California. At First Business Bank, Bill develops and implements balance sheet strategies centered around managing the Investment Portfolio, Asset Liability Management (ALM), capital planning, and liability funding.