Access to STIBOR

The Stockholm Interbank Offered Rate, STIBOR, is an interest rate benchmark calculated and published on each business day in Sweden. STIBOR is recognised as a critical benchmark of vital importance for financial stability and market integrity in Sweden. STIBOR fulfills the following criteria as a critical benchmark:

• • the value of contracts underlying the benchmark is at least €400bn;
  • the benchmark has no, or very few, appropriate market-led substitutes;
  • in the event the benchmark ceases to be provided, or becomes unrepresentative of the underlying market, there would be significant and adverse impacts on market integrity, financial stability, consumers, the real economy or the financing of households and businesses in Sweden.

The total value of financial instruments and financial contracts referencing STIBOR is about eight times larger than the gross national product of Sweden. STIBOR is the benchmark commonly used in financial contracts, bonds and loans and in most types of interest rate and currency derivatives for Swedish kronor. The definition of STIBOR is  “STIBOR is a measure of the interest rate applied by panel banks for unsecured lending in Swedish krona (SEK) to leading banks.”

STIBOR is determined with the Input Data contributed by a panel of credit institutions (Panel Banks) that are representative of the Swedish financial market.

The STIBOR tenors are T/N (Tomorrow/Next), 1-week, 1 month, 2 months, 3 months, 6 months. The rates are provided via the SFBF website, free of charge, for personal use with a twenty-four (24) hour delay.

STIBOR ® is a registered trademark of the Swedish Bankers’ Association and used with permission.

As of 2022 STIBOR is calculated based on actual transactions from contributing panel banks. The rates for STIBOR are calculated as the arithmetic mean of input data contributed by the Panel Banks according to a clearly defined STIBOR calculation methodology.

The STIBOR calculation methodology, which had remained relatively unchanged for the past decades, went through an extensive analysis and revision in close collaboration with contributing banks, market expertise and the Supervisory Authority ahead of the revision. During a project spanning 19 months (2020-2022) SFBF developed a revised calculation methodology and a new calculation system to accommodate the revised calculation methodology in an automated and controlled manner to safeguard the integrity and robustness of the benchmark, based on actual transactions from contributing panel banks.

The revised methodology measure STIBOR’s underlying economic reality in a consistently accurate manner, aligned to the historical and intended use of the benchmark but in providing a more direct and transparent link to observable trade data the methodology is more robust, transparent and provides assurance to users and is designed to meet applicable regulatory requirements.  

Learn more about who governs STIBOR, and SFBF, and what supervisory authority SFBF answers to.

 

On a regular basis SFBF publishes a number of reports, statistical averages and more.

 

During the Evolution of STIBOR-project a revised calculation methodology, based on actual transactions from contributing panel banks, was developed.