medium · Debt Capital Markets
Which entity was primarily responsible for leading the transition from USD LIBOR to SOFR in the United States?
- The Alternative Reference Rates Committee (ARRC), convened by the Federal Reserve.
- The London Interbank Association (LIA), to protect the legacy of the LIBOR benchmark.
- The Securities and Exchange Commission (SEC), through the implementation of the Sarbanes-Oxley Act.
- The International Monetary Fund (IMF), as part of a global effort to eliminate 'petrodollar' dominance.
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