GFOA Offers Guidance on the LIBOR/SOFR Transition

Thursday, October 10, 2019 in Press

The GFOA, in partnership with the Alternative Reference Rates Committee (ARRC), published a two-page guide for municipal issuers. The purpose of the document is to give the reader a basic understanding of the LIBOR/SOFR transition and rationale as well as general considerations for municipal issuers over the next few years.

Additionally, this week, the Treasury Department moved to smooth the transition away from LIBOR by proposing a rule allowing market participants to change the reference rate on any contract without tax consequences.

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