Foreign Benchmark Rate Loans Tracker


Summary

This foreign benchmark rate loans tracker identifies select new publicly filed loans with interest rates based on foreign benchmark interest rates from March 1, 2022, through to the present. The main front-runner for replacing LIBOR in the United States is Alternative Reference Rate Committee (ARRC)-recommended SOFR, however, other international rates have developed like the Sterling Overnight Index Average (SONIA) in the United Kingdom, the Euro Interbank Offered Rate (EURIBOR) and the Euro Short-Term Rate (ESTR or €STR) in Europe, the Tokyo Overnight Average Rate (TONA or TONAR) and the Tokyo Interbank Offered Rate (TIBOR) in Japan, and the Swiss Average Rate Overnight (SARON) in Switzerland.