GOLDILOCKS
"The Bank Term Funding Program (BTFP) expire in March, and no new loans can then be taken out, but existing loans can be maintained until their term ends, which is one year after it was issued."
The existing loans will give Banks time to add new Basel 3 requirements to new loans (SOFR) going forward inside a gold backed economy.
Secured Overnight Financing Rate (SOFR) allows a borrowing of cash overnight that is collateralized and repurchased through the US Treasury securities.
This new repo Market mechanism (SOFR) will gradually be put into place to replace the old Libor contracts finishing up their contracts this year.
"1-, 3- and 6-month US dollar LIBOR settings continue to be published under an unrepresentative ‘synthetic’ methodology until end-September 2024. After this, publication will cease permanently."
By the end of the year, everything turns to gold. "All roads lead to gold, and gold will set us free."
© Goldilocks
https://www.capitalone.com/commercial/solutions/libor-sofr/
https://www.jpmorgan.com/solutions/cib/markets/leaving-libor#:~:text=from%20June%2030%2C%202023&text=1%2D%2C%203%2D%20and%206,this%2C%20publication%20will%20cease%20permanently
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