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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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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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Careers
A focus on associate needs backed by more than 185 years of strength and stability. That’s just one of the reasons to work for Old National.
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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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These Amazing Facts May Change Your Mind About the Internet of Things
If you were to judge the Internet of Things (IoT) relative to some of the expectations and figures that have been publicized over the years, it might be fair to categorize the much-hyped "third industrial revolution" as a bit of a letdown thus far.
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Examining the Financial Consequences of a Data Breach
The likelihood of a company, big or small, facing a security incident has increased, and an estimated one in three organizations will fall victim in the next two years. As long as cybercriminals can make a profit from consumer and business data on the Dark Web, organizations will continue to be targeted by hackers. Bus
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In Family Philanthropy, Embracing Differences Can Pay Off
Families may benefit from learning about and supporting one another’s philanthropic aspirations.
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A Limitless Helping Hand: Keeping Families Covered
Meet Ann Marie Mathis, the selfless and inspiring business owner of Keeping Families Covered, a non-profit organization dedicated to providing diapers and other basic needs to underprivileged families. As a mother of seven, Ann Marie founded Keeping Families Covered because she saw tremendous need among many families w