Noun
SOFR
(finance) Acronym of Secured Overnight Financing Rate.
The Bank is currently planning for the eventual replacement of the LIBOR benchmark interest rate, including the probability of the Secured Overnight Financing Rate (SOFR) as the dominant replacement. Source: Internet
On top of that, banks complain that SOFR is missing a “term structure,” that is the ability for investors to look up what the rate will be in the future. Source: Internet