Statement Regarding the Publication of Reference Rates on Friday, April 15, 2022

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Statement Regarding the Publication of Reference Rates on Friday, April 15, 2022

April 1, 2022

The Securities Industry and Financial Markets Association (SIFMA) recommends a full market closure on Friday, April 15, 2022, which will be widely treated as a holiday in the repo market. As a result, there will be no publication of the Tri-Party General Collateral Rate (TGCR), the Broad General Collateral Rate (BGCR), the Secured Overnight Financing Rate (SOFR), or the SOFR Averages and Index on, or for, that day. The subsequent publication of the Treasury Repo Reference Rates will occur on the morning of Monday, April 18. The TGCR, BGCR, and SOFR will reflect overnight, same-day settling Treasury repo transactions that settle on Thursday, April 14 and mature on Monday, April 18, while the SOFR Averages and Index will have a value date of Monday, April 18.

Unsecured money markets will remain open, and publication of the Effective Federal Funds Rate (EFFR) and Overnight Bank Funding Rate (OBFR) follows the Federal Reserve Bank of New York’s Holiday Schedule. As a result, the EFFR and OBFR will be published on, and for, Friday, April 15, 2022.

For more information regarding publication arrangements, please see the Additional Information about Reference Rates Administered by the New York Fed page.

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