As Q2 2022 begins, most banks have moved away from originating new Libor-based loans.
Data observations from Greenwich Commercial Loan Analytics (CLA) clients show that:
- SOFR and BSBY base rates accounted for 85% of the traditional Libor-based bilateral market in Q1 2022
- 36% of Q1 renewals that transitioned from Libor to SOFR displayed no change in spread
- In cases where a spread increase was applied on a Libor-to-SOFR renewal, the average increase was 17 bps
Greenwich Commercial Loan Analytics is a unique offering backed by our market-leading dataset of commercial loan transactions used to help measure a bank’s relative performance compared to independent, third-party metrics. Our experience in cleansing and standardizing commercial loan data, combined with our strong business knowledge and analytical methods, enables us to understand detailed pricing levels and trends nationwide.
Our clients are principally top 40 U.S. commercial banks by asset size, with Coalition Greenwich collecting data on nearly 1.3 million loans monthly from bank contributors.