“Impeccable” – Seeds of Wisdom RV/GCR Update(s) from Goldilocks 5-23-23

Goldilocks and Seeds of Wisdom Goldilocks posted some news articles with comments: “LCH SwapClear (originally London Clearing House) is a British clearing house group that serves major international exchanges.” LCH SwapClear has just completed it’s transition from Libor to SOFR. There were two parts to this transition. The second and final transition is now over. This transition was a multi trillion dollar conversion into a collateralized lending service backed by real assets. The first transition was 43 trillion dollars worth of assets. The second and final transition was 43 trillion dollars of assets. LCH SwapClear converted roughly 600,000 USD Libor contracts into SOFR which…