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Employers, Its Time To Start Supporting Your Employees’ Financial Wellness
Every employer—at least every good one—cares about the wellbeing of their employees. Outside of the basic health insurance and 401(k)s, many companies also offer wellness programs to encourage fitness amongst their staff or even have an educational budget for employees to go back to school or participate in certificati
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What are the replacement rates for LIBOR?
Although options for replacing LIBOR continue to evolve, Old National has currently identified the following potential replacement options for our clients:
- Secured Overnight Financing Rate (SOFR)
- Term SOFR
The Secured Overnight Financing Rate or SOFR is the replacement benchmark recommended by the New York Federal Reserve’s Alternative Reference Rate Committee (ARRC). (See references below for more information on the work of the ARRC.) SOFR is derived from transactions that are executed in the overnight repurchase agreement (repo) market. These transactions are executed between banks and other intermediaries and are often collateralized by US Treasury securities. The market for SOFR is very deep and liquid with nearly $1 trillion in underlying transactions executed daily.
While SOFR has been identified as the replacement index for LIBOR, there are multiple calculation methodologies which have been developed given that SOFR is a daily rate. The CME Term SOFR Reference Rates benchmark is a daily set of forward-looking interest rate estimates based on the SOFR futures contracts. CME Term SOFR Reference Rates are calculated and published for 1-month, 3-month, 6-month and 12-month tenors. Like LIBOR, CME Term SOFR Reference Rates are forward-looking, and the rate is set at the beginning of the period and interest is paid in arrears.
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Buying Holiday Gifts Without Breaking the Budget
Using a savings account for holiday shopping without breaking the budget.
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Operations: A CEO-Level Priority In 2022
Companies operating within the persistent and ever-evolving constraints over the last two years have had to fast adapt new levels of productivity and
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Supply Chain Disruptions Are Likely to Continue in 2023. Here's How to Manage
While some severe pressures from the pandemic are starting to ease, there are still many global supply chain obstacles business owners should keep
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3 ways CIOs can drive business success in 2023
Editor’s note: The following is a guest post authored by Momentive CIO Eric Johnson. Workplace culture, employee experience and productivity are top
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How To Market A Small Business On A Budget
During tough times, marketing often gets cut even though it's key to increasing a company's visibility. Consider these affordable solutions for promoting your small business
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How To Be A Stakeholder-Driven Company In A Pandemic
The world is gripped by fear. The market is plunging. Governments are locking down cities. Many of us are refreshing news sites and Twitter to understand the latest update. Of course, I’m talking about the coronavirus, or COVID-19, an international pandemic that’s leaving everyone anxious.
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Strong relationships can aid CFOs in building C-suite cohesion
While some economists are cautiously optimistic about the future of the economy, executive leaders are still facing high inflation, rising
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6 Steps To Financial Empowerment For Business Owners
Women entrepreneurs often face challenges on the path to financial empowerment. Consider these strategies for overcoming barriers and growing your business