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Cybersecurity is increasingly a CFO problem
Cybersecurity has shifted from an information technology concern to one that increasingly carries financial risks falling within the scope of the modern CFO role.
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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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How To Choose A Tax Professional
Couple preparing an income tax return.gettyYour tax return may be so simple you don’t need professional help—until the year that it isn’t. Tax year 2020 is that year for many taxpayers. Covid-related tax relief, work from home considerations, and taxable unemployment are all adding complexity to what used to be the mos
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How to use education benefits to create a more inclusive workplace
Attaining and developing appropriate skills is the key to growth within your career and your company. More than two-thirds of jobs will require some post-high-school learning by 2027 and employees who have degrees can expect as much as a 167% salary bump over those who do not. Yet employees in underrepresented demograp
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Post-Pandemic Trends In Consumer Behavior: What Small Businesses Need To Know
The pandemic-induced surge in online shopping changed how consumers discover the products they want to buy.
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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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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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Buying Holiday Gifts Without Breaking the Budget
Using a savings account for holiday shopping without breaking the budget.
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Financial Literacy Month: Building Confidence, One Conversation at a Time
By Ben Joergens, Old National Bank Financial Empowerment Program Director April is Financial Literacy Month — a timely reminder that the most
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How Small Businesses Can Win the Holiday Rush Without Breaking the Bank
The holiday season can feel like a marathon for small businesses. Sales spike, but so do costs — from marketing to last-minute shipping fees. And