Benchmark rates feed any term or client interest setting that uses Prime Plus, SOFR or LIBOR. Keep them current or interest will accrue against a stale rate.
Update the rates
1 Settings · 2 System Config · 3 Benchmark Interest Rates · 4 Edit · 5 Prime, SOFR and Libor rates
- Click Settings in the bottom-left corner.
- Open the System Config tab.
- Select Benchmark Interest Rates from the list on the left.
- Click Edit, update the Prime Rate, Sofr Rate or Libor Rate, and click Update.