SFBF lodges an application for authorisation under BMR with the Swedish FSA


Today, December 27th, 2021, SFBF has lodged an application for authorisation under the (EU) Benchmark Regulation (BMR) with the Swedish Financial Supervisory Authority. The application is lodged in accordance with the previously communicated timeline.

STIBOR remains eligible and can be used for existing and new financial contracts, financial instruments or for measuring investment funds, during the application process as per BMR article 51, unless or until the authorisation is refused.

The application includes a revised transaction based STIBOR calculation methodology which, in an automated and controlled manner, calculates the contributing banks’ cost of fund using the banks funding transactions. As STIBOR is an offered rate, a predetermined Bid to Offer Spread is added to the cost of funds to produce the STIBOR rates. The revised methodology has been developed in collaboration with market participants.

Details on the transaction based STIBOR calculation methodology describing the revised methodology are available and published on the SFBF website, Library (swfbf.se)

SFBF have entered into the final stage of the transition to the revised transaction based calculation methodology in close collaboration with the panel banks. Once the transition is concluded it will be communicated via the SFBF website and appropriate channels.

SFBF is proud to take STIBOR into the future and continue the tradition of a secure and robust benchmark.