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 |
| EONIA EUR LIBOR |
€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 |