Patrick Toomey actually said...

So it seems that a problem with inadequate liquidity is that the rate that is determined might not accurately reflect actual borrowing and l...

regulators, some regulators, are pressing all banks to use SOFR without any transparency or public input.

this may be what the Biden administration financial regulators are actually not pursuing.

It's frustrating that we are forced to spend taxpayers' time and money cleaning up after the biggest banks, over and over again.