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In business since 1851, the insurer also takes a $5 million minority equity stake in NYDIG, a provider of cryptocurrency custody services.
In 2020, digital currencies strongly outperformed other assets.
The delay in LIBOR retirement just puts off the inevitable; lawmakers need to clarify what benchmarks will replace LIBOR in financial contracts whenever it finally ceases to be used.
ICE plans to extend the transition away from dollar LIBOR till mid-2023, but regulators are still encouraging banks to move ASAP.
3 key questions corporate treasury teams should be asking in today's volatile market.
Survey indicates that Covid-19 hasn't significantly slowed the transition to a new interest rate benchmark.
"It's more important for the United States to get it right than to be first," says Chairman Powell.
The FFCB is exchanging dollar-denominated, floating-rate securities tied to LIBOR for SOFR notes, in anticipation of the end of LIBOR next year.
Protocol expected to be released soon would provide fallback language for transition to new benchmarks, even if plans are currently unclear.
Fed signals it will hold interest rates steady through at least 2023.
