The Swedish Financial Benchmark Facility (SFBF) launches public consultation on the evolution of STIBOR
The Public Consultation Paper publishes the findings of a comprehensive review of the definition of STIBOR and the calculation methodology, together with proposed adjustments, in order to increase both the robustness and transparency of the benchmark. The Public Consultation forms part of SFBF’s commitment to evolve STIBOR, for the benefit of its broad user base, with the aim of ensuring the benchmark is fully transparent, robust and aligned to International standards.
Two papers are published today; the Consultation Paper presents a summary of the review, the issues considered and sets out the proposed reform in general terms. There are a number of specific questions posed that respondents are invited to answer but all feedback is welcomed, to be provided through the prescribed form and sent to email@example.com . The second paper is a more detailed supplement explanation of the proposed revised calculation methodology.
The consultation period will run from 1 March to 31 March 2021, after which SFBF will review responses and publish a summary of the feedback.
The Swedish Financial Benchmark Facility (SFBF) will lodge an application for authorisation with the Swedish Regulator, Finansinspektionen, by the end of 2021 to be compliant with regulation EU 2016/1011 for financial benchmarks (EU BMR).