Authorisation as an administrator of STIBOR – FI assesses that the application is complete

2023-01-02 | BMR News Markets

Swedish Financial Benchmark Facility AB 's (SFBF) application to become an authorised administrator of STIBOR in accordance with the EU’s Benchmark Regulation (BMR) has of 2 January 2023 been assessed to be complete.

SFBF provides the benchmark STIBOR (Stockholm Interbank Offered Rate), which is a critical reference rate according to the BMR. SFBF submitted an application to Finansinspektionen (FI) on 27 December 2021 to become an authorised administrator in accordance with the BMR. FI now assesses the application to be complete. FI shall examine the application for authorisation and adopt a decision to authorise or refuse to authorise SFBF within four months of receipt of a complete application according to article 34.6 a BMR.

Under the transitional provisions set out in the BMR, STIBOR may continue to be used while FI evaluates the application.