Indiana Code 28-10-2-15. “Secured overnight financing rate”
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Terms Used In Indiana Code 28-10-2-15
- benchmark: means an index of interest rates or dividend rates that is used, in whole or in part, as the basis of, or as a reference for, calculating or determining any valuation, payment, or other measurement under or with respect to a contract, security, or instrument. See Indiana Code 28-10-2-2
Sec. 15. As used in this chapter, “secured overnight financing rate”, or “SOFR”, with respect to any day, means the secured overnight financing rate published for the day by the Federal Reserve Bank of New York, as the administrator of the benchmark, or by any successor administrator, on the SOFR administrator’s Internet web site.
As added by P.L.67-2022, SEC.1.