Comments due on Fed benchmark rates proposal

The Federal Reserve Board has requested public comment on a proposal for the Federal Reserve Bank of New York, in cooperation with the Office of Financial Research, to produce three new reference rates based on overnight repurchase agreement (repo) transactions secured by Treasuries. The proposal is issued in response to calls for a new reference rate to replace LIBOR as benchmarks for use in financial transactions. Comments will be accepted for 60 days following publication.

UPDATE: Published at 82 FR 41259 on 8/30/17, with comment deadline of 10/30/17.