Jul
26
Fannie Mae Debt Sale Sets Milestone For New Borrowing Benchmark
ByNew index taking aim at scandal-ridden Libor passes $6 billion test.
A benchmark lending rate that regulators and investors hope can replace the scandal-plagued Libor as the foundation for trillions of dollars of debt from credit cards to business loans easily passed a key test.
Mortgage finance giant Fannie Mae sold $6 billion of adjustable-rate securities in the first major trial run of the new index Thursday. The sale marked a milestone for borrowers, investors and bankers as Libor, the London interbank offered rate, begins its planned wind-down from ubiquitous metric to expiration at the…
Fannie Mae Debt Sale Sets Milestone For New Borrowing Benchmark
