SOFR Adoption Committee

The SOFR Adoption Committee is a group formed to help financial markets transition from the old benchmark interest rate (Libor) to SOFR, which is based on actual transactions for better accuracy and reliability. They develop guidelines, promote awareness, and encourage institutions to adopt SOFR for loans, derivatives, and other financial products. The committee's goal is to ensure a smooth, consistent shift that maintains market stability, transparency, and confidence, reducing risks associated with the previous benchmark's manipulation and decline.