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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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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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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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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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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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Buying Holiday Gifts Without Breaking the Budget
Using a savings account for holiday shopping without breaking the budget.
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How To Network Gracefully In The Time Of Social Distancing
In my previous life–which is the one I was living until about three weeks ago–I committed to connecting four women each day during the month of March. The #Connect4Women challenge is an initiative conceived by Jennifer DaSilva out of pure generosity. DaSilva, as president of creative agency Berlin Cameron, had already
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Four tips to identify AI solutions that solve real business problems
Artificial intelligence (AI) has the potential to become the most transformative technology of our time. With 89% of Harvard Business Review survey
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Digital Marketing Mistakes Most Small Businesses Are Still Making
Digital marketing is unique on many levels. Unlike any traditional form of marketing, it can be totally free (which means small businesses can compete
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Hosted by Old National Bank Financial Empowerment
Hosted by Old National Bank Financial Empowerment Director Ben Joergens, each Real-Life Finance episode focuses on everyday financial solutions that