The Swedish Financial Benchmark Facility (SFBF) primary purpose is to provide a best practice governance environment for the STIBOR benchmark applying international guidelines and regulations, overseen by an independent Oversight Committee.

SFBF will at all times consider how STIBOR should best evolve for the benefit of its users and the Swedish financial markets in collaboration with the Oversight Committee,  the Supervisory Authority and any relevant stakeholders.

Governing bodies

Board of Directors

The SFBF Board of Directors (the Board) is the governing body of SFBF and consists of members elected by the general meeting, serving one-year terms. The members elected by the Annual General Meeting are considered to be independent in relation to the company and to the stakeholders.

The Board is responsible for the company’s organization and the management of the company’s business, which means that the Board determines the general strategy and makes strategic decisions of greater importance.

The Board appoints the Chief Executive Officer and approves the components of the Governance Framework, and changes thereto, based on their own considerations, and recommendations, as applicable, of the STIBOR Oversight Committee (OC).

STIBOR Oversight Committee (OC)

SFBF maintains an independent Oversight Committee of market experts overseeing the application of the benchmark governance, compliance and monitoring market developments. The OC is an independent committee composed of a balanced representation of stakeholders, which exercises an independent oversight over all aspects of the provision of STIBOR, including governance and methodological aspects.

The Committee has the primary governance oversight of the methodology, determination and dissemination of STIBOR. The Committee’s purpose is to support the integrity, accuracy and reliability of STIBOR benchmark to the benefit of all users of the benchmark and reliant market participants.


Learn more about the Oversight Committee here.


Control and accountability

The Benchmarks Regulation (BMR) aims to ensure benchmarks are robust and reliable, and to minimize conflicts of interest in benchmark-setting processes. BMR builds on the IOSCO Principles for Financial Benchmarks and applies to any benchmark used within the EU. In implementing a revised STIBOR (2022) the benchmark has been considerably strengthened by establishing further control and oversight arrangements for the Administrator, for the contributors, and for the Calculation Agent.

The Swedish Financial Benchmark Facility (SFBF) as a critical benchmark administrator, has a responsibility of defining and implementing robust governance and control arrangements for functions that are outsourced in the provision of STIBOR. To preserve the high quality and integrity, STIBOR benefits from a solid Governance Framework establishing the governance, control, and accountability requirements and principles related to the  provision of the benchmark, supported by a set of robust policies and procedures.

SFBF aims for transparency and provides the market with data and analysis continuously.


Administrators of benchmarks located in the EU have to apply for authorisation and are subject to supervision by the relevant competent authority. The Swedish Financial Supervisory Authority, Finansinspektionen, supervise the Swedish financial markets.

SFBF is authorised to operate as a benchmark administrator pursuant to Article 34.1.a of the EU Benchmarks Regulation (BMR). SFBF will answer, and report, to the Swedish Financial Supervisory Authority, Finansinspektionen.

SFBF has been added to the European Securities and Markets Authority’s (ESMA) register of administrators under the Benchmark Regulation (BMR). SFBF has also been added to the Financial Conduct Authority’s (FCA) UK Benchmark Register under the UK version of the Benchmark Regulation (BMR).

SFBF shall undergo an external audit of its compliance with the benchmark methodology and the EU Benchmarks Regulation (EU) 2016/1011, as per applicable requirements in the BMR, Annex I, point 4 and Article 7(3), at least annually. As per requirements in the BMR, SFBF shall publish the details of the audits to users whom request such information.  SFBF advises users of STIBOR wishing to request such information contact us.

Policies and procedures

I have a concern

Contact Us
Please share your comments, queries, and suggestions by contacting us.

File a complaint
You are welcome to file a complaint with SFBF on matters related to SFBF or STIBOR. Read more on the complaints handling process, or file a complaint, on the Complaints Portal.

If you believe that the actions of anyone (or a group of people) working for SFBF does, or could, constitute malpractice we encourage you to alert us. To make a claim, read more on the whistleblower process on the Whistleblowing Portal.