Libor Benchmark Interest Rate Ends After Decades of Use

The London Interbank Offered Rate (LIBOR) has been replaced after billions in fines for manipulation.
LIBOR is being replaced in the U.S. by the Secured Overnight Financing Rate (SOFR).
The transition away from LIBOR has been complex but mostly smooth, though some riskier borrowers still use LIBOR.
Regulators should support multiple new interest rate benchmarks instead of a single replacement for LIBOR.
The end of LIBOR is not expected to cause major disruptions, but concerns remain about the transition.