Please use our FAQ below to learn more about the LIBOR transition and how FHLBank Chicago is here to help your financial institution. 

Background Information

Why is LIBOR going away?
Who are the regulators responsible for the LIBOR transition?
When is LIBOR going to end?
What is SOFR? Why was it chosen?
What is the timing of the transition?

SOFR Developments

How does SOFR compare to LIBOR and other rates?
Why has SOFR been so volatile?
What has SOFR bond issuance been like?
What has developed in the SOFR futures market?

Fallback Language

What is “fallback language?"
What are regulators doing in regards to fallback language?
What is the progress on fallback language for cash products?
What happens when a trigger goes off?
What is the progress on fallback language for derivatives?

FHLBank Chicago and Member Developments

What changes related to LIBOR and SOFR has FHLBank Chicago made?
Should I be doing anything to prepare for the transition?
What will happen to my FHLBank Chicago LIBOR-indexed advances?
Will FHLBank Chicago Offer a SOFR-linked advance?