We're excited to announce that PrecisionLender now supports a SOFR Swap Curve. This curve is generated using the CME Term SOFR Rates for 30-, 90-, and 180-day rates with SOFR Based Swap rates creating the longer end of the curve from 1 year through 30 years. The Swap Rates are generated based on the last trade of the day based on the market closure at 4:00 pm Eastern Time. As with other PrecisionLender-provided rate curves, these rates will be based on the prior business day, so are effectively one day behind.
To start using the SOFR Swap Curve, you'll need to create a funding package that uses SOFR Swap. After that, you'll need to add it to a region in order for the funding package to be available when new opportunities are being priced.
For clients who are currently using a custom funding curve for Term SOFR, you now have the option to start using the PrecisionLender-provided curve instead. If you'd like to disable the custom version, you can update your existing funding package to use the new SOFR Swap Curve instead. If you have any questions about the new SOFR Swap Curve or how to start using it in PrecisionLender, please reach out to us at support@precisionlender.com.