On 17 December 2024, we published a package of documentation to assist with the implementation of robust EURIBOR fallbacks including: single currency euro exposure drafts; exposure draft wording for the Bloomberg EURIBOR-€STR Spread; and a guidance note on fallbacks to interbank term rates and LMA documentation.

We are requesting feedback on the exposure draft documentation, particularly in respect of its use in practice, by close of business on Friday 28 February 2025.  

The Steering Committee of the National Working Group (NWG SC) has published its decision to select WIRF– as the key interest rate benchmark replacing the WIBOR benchmark. This follows the previous selection of the WIRON benchmark.

Click here to access the NWG SC’s announcement.

On 28 November 2024, the SARB MPG published various recommendations relevant for the transition from JIBAR to ZARONIA. 

Click here to access the MPG JIBAR Fallback Methodology Recommendation. Click here to access the MPG Recommendations for a ZARONIA-First initiative in the derivatives market.