@AppleHelix Mostly MBS. Very outsized securities portfolio and a lot of duration in it. You can pull up the FFIEC UPBR and other sources to get more in-depth info.
@WSJ This would end up making things worse as it incentivizes people to make withdraws even earlier and in times of stress like March of ‘20 bids on short credit can be all over the place (if even available) so there is no guarantee “swing pricing” would be even remotely accurate.
@BChappatta SOFR isn’t a proper replacement reference rate and BSBY, OBFR, AMERIBOR, etc. aren’t either. This whole thing is dumb and unnecessary. LIBOR clearly wasn’t perfect but we’ve replaced it with worse options, most notably the one pushed by the Fed with no underlying credit component