Author: McCabe Hurley

The Secured Overnight Financing Rate (SOFR) Replaced LIBOR For new transactions as of April 1, 2018. USD IBOR will continue to be used for existing swaps and loans. Today, SOFR will be used to measure the cost of borrowing cash overnight collateralized by US Treasuries. SOFR will...

China included to the IMF This weekend was the effective date for China’s acceptance to the IMF. This means China’s currency will be added to the current list of currencies used to calculate the Special Drawing Rights (SDR). A LITTLE BACKGROUND In 2010, China requests to be a...

BANKERS’ PAY CAPS PAY CAP LEAVES A BITTER TASTE The taste is akin to unsweetened lemonade. A cap on bankers’ total compensation packages will be approved and become part of the Dodd-Frank Act of 2010. The language has been out for public comment (comments due July 21,...

REGULATIONS ARE BOUNDARIES Rules are important. Regulations are important. Boundaries of acceptable actions are important.  Enforcing Wall Street Reform is the difference between real change and lip service. Just as the rules guiding the behavior of a child, regulations are boundaries. Boundaries with children, like telling a...