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Frequently Asked Questions BACK

Which benchmarks will be impacted?

National Working Groups were established by regulators and central banks in different jurisdictions aiming to reform all Libor term rates, inclusive of overnight rates. As of yet, not all details have been finalized. The LIBORs affected are presented in the following table:

Benchmark Rate (LIBOR)  Alternative
Risk Free Rate
National Working Group Administrator
Risk Free Rate
USD LIBOR SOFR Alternative Reference Rates Committee Federal Reserve Bank of New York
GBP LIBOR SONIA Bank of England Working Group on Sterling Risk- Free Rates Bank of England
€STR Working Group on Euro Risk-Free Rates European Central Bank
JPY LIBOR TONAR Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks Bank of Japan
CHF LIBOR SARON National Working Group on Swiss Franc Reference Rates SIX Swiss Exchange

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