Executive Summary

As 2021 comes to a close, Libor activity remains... but for how long?

Data observations from Greenwich Commercial Loan Analytics (CLA) clients show that:

  • SOFR and BSBY transactions accounted for nearly 60% of the traditional Libor-based market in December
  • SOFR volume submitted to us has increased over 400% since September 2021
  • Compared to similar Libor-based transactions, SOFR spreads displayed a premium to Libor in Q4
Methodology

Greenwich Commercial Loan Analytics is a unique offering backed by our market-leading dataset of commercial loan transactions used to help measure a bank’s relative performance compared to independent, third-party metrics. Our experience in cleansing and standardizing commercial loan data, combined with our strong business knowledge and analytical methods, enables us to understand detailed pricing levels and trends nationwide.

Our clients are principally top 40 U.S. commercial banks by asset size, with Coalition Greenwich collecting data on nearly 1.3 million loans monthly from bank contributors.