what is replacing libor and libid 
as a reference rate libor was replaced by the secured overnight financing rate sofr however a synthetic u s dollar libor is still being published in order to aid the transition 2the bottom linelibid was an interbank reference rate used to measure the cost of borrowing money between different banks along with libor it was frequently used in variable rate mortgages and contracts to measure the changing costs of borrowing money libid and libor were phased out in 2021 and replaced by the secure overnight financing rate sofr 