Tag: interest rate market reform

interest rate market reform

FSB Reinforces Support for Overnight RFRs

The Financial Stability Board has published a statement on reforms to interbank offered rates and the development of overnight risk-free, or nearly risk-free, rates and term rates.
The FSB says the statement is intended to provide market participants and other stakeholders with its views ahead of a forthcoming consultation by the International Swaps and Derivatives Association which contemplates fall backs for certain derivative contracts based on overnight RFRs. The FSB started its work on reforms to IBORs following enforcement action taken by FSB member authorities in response to the manipulation of these benchmarks.

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