Intercontinental Exchange, Inc. (NYSE:ICE) today announced the transition of the American Interbank Offered Rate, now ICE AMERIBOR, to ICE Data Indices, LLC.
AMERIBOR is a credit-sensitive benchmark that tracks the borrowing costs of small, medium, and regional banks in the United States. Calculated as the volume-weighted interest rate of fully-funded overnight unsecured loans on the AFX Marketplace, it provides a transparent and market-driven measure of credit conditions.
Used by more than 1,000 American banks and financial institutions, the AMERIBOR series includes a range of rates such as rolling averages and 30- and 90-day term benchmarks that reflect both short-term funding conditions and longer-term borrowing costs. The AMERIBOR methodology and daily publication of rates are publicly available on ICE’s website.
“AMERIBOR reflects the real funding costs of U.S. community and regional banks, working closely alongside the SOFR rate, to help banks compete and thrive in this evolving lending environment,” said Varun Pawar, Chief Product Officer at ICE. “We’re excited to welcome AMERIBOR into our trusted family of ICE Indices which underpin over $2 trillion in AUM across the active and passive funds landscape.”
Earlier this year, ICE acquired AFX, the previous administrator of AMERIBOR. With this transition, ICE Data Indices will oversee the governance, production, and publication of AMERIBOR. This addition complements the services ICE already provides to many of the same institutions through its mortgage technology network.
With over $2 trillion in assets under management benchmarked to ICE Indices, ICE has deep expertise administering and publishing indices that are used throughout global markets. Its broad offering includes over 7,000 fixed income, equity, currency, commodity and mortgage indices that are trusted by market participants around the world and backed by a 50-year track record.
