M&T Bank Announces Plan To Transition Outstanding U.S. Dollar LIBOR-Linked Securities To CME Term SOFR As Replacement Reference Rate
Portfolio Pulse from Benzinga Newsdesk
M&T Bank has announced its plan to transition outstanding U.S. Dollar LIBOR-linked securities to CME Term SOFR as the replacement reference rate.
June 14, 2023 | 8:07 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
M&T Bank's transition from LIBOR-linked securities to CME Term SOFR may lead to a smoother and more transparent reference rate for its securities.
M&T Bank's transition from LIBOR-linked securities to CME Term SOFR is a regulatory move to replace the reference rate. This change may lead to a more transparent and stable reference rate for the bank's securities, but it is not expected to have a significant short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100