FASB has proposed chances to RFR guidance
The FASB has proposed that reference rate relief guidance period be extended and to also consider SOFR Swap Rates as benchmark interest rates.
The proposal, if accepted, would defer the sunset date for providing relief during the transition away from LIBOR from December 31, 2022 to December 31, 2024. Additionally, the FASB proposed amendments to the definition of the SOFR Swap Rate to include other versions of SOFR, such as SOFR term.
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