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This actually makes some sense to me. Secured Overnight Financing Rate is recorded though the Federal Reserve. I haven't looked much into it, seems very similar to the prime rate from what I have seen as of yet.
apps.newyorkfed.org/markets/autora…
apps.newyorkfed.org/markets/autora…
I always wondered why the London International Bank offered Rate was such a dominate index in American banking. Sometimes COFI (cost of funds index) or a few various Treasury indexes would pop up but its almost always the Liber.
