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NY Fed announcement on SOFR averages and index
The Federal Reserve Bank of New York has issued an Operating Policy Statement regarding publication of Secured Overnight Financing Rate (SOFR) averages and a SOFR Index. Publication of 30-, 90-, and 180-day SOFR Averages as well as a SOFR Index will begin March 2, 2020, in order to support a successful transition away from U.S. dollar (USD) LIBOR. The new SOFR Averages will be referred to as “30-day Average SOFR”, “90-day Average SOFR” and “180-day Average SOFR.”
The statement revealed the calculation method to be used to determine the SOFR averages and index and illustrated how they will appear on a dedicated page on the NY Fed's website when published.