Fannie Mae Will Not Issue Future LIBOR-Based Floating Rate Corporate Debt
Fannie Mae supports the Alternative Reference Rates Committee’s (ARRC) recommendation to replace the London Interbank Offered Rate (LIBOR) with a new index based on the Secured Overnight Financing Rate (SOFR). We have not issued any new floating rate corporate debt securities indexed to LIBOR since 2017. As part of the transition to SOFR, we issued the market’s first SOFR-indexed debt securities in July 2018. For the avoidance of doubt, effective immediately, we will not issue any floating rate corporate debt securities indexed to LIBOR in the future.