The 2012 LIBOR scandal, in which a group of bankers manipulated the global interbank rate, rocked the financial world. LIBOR, long used to establish interest rates on commercial and consumer loans, is scheduled to sunset in 2021. The question “what will replace LIBOR?” has persisted. Oscar Stephens provides an overview of the current situation and offers a preview of SOFR, the top contender for LIBOR’s replacement.