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Statement on IOSCO Compliance for Federal Reserve Bank of New York Administered Reference Rates
The Federal Reserve Bank of New York (New York Fed) today updated its Statement of Compliance with the IOSCO Principles for Financial Benchmarks (the Principles). The statement is updated each year to reflect any changes that may have occurred, and this year also includes the 30-, 90- and 180- day SOFR Averages and SOFR Index. The New York Fed’s Audit Group independently reviewed the organizational and operational framework used to administer the EFFR, OBFR, TGCR, BGCR, SOFR, SOFR Averages, and SOFR Index with respect to governance, quality of the benchmark, quality of the methodology, and accountability. The Audit ... (full story)