Financial Benchmarks Sweden (FBS) acquires full ownership of Swedish Financial Benchmark Facility (SFBF)

Financial Benchmarks Sweden (FBS) and Global Rate Set Systems (GRSS) and have reached an agreement for FBS to acquire all shares, and hold full ownership, of the Swedish Financial Benchmark Facility (SFBF) as of August 16, 2021.

The Swedish Financial Benchmark Facility is an independent benchmark administrator, specifically established to administer the Stockholm Interbank Offered Rate, known as Stibor.

The new ownership structure is made in the best interests of Stibor and its authorisation, where GRSS continues to operate as outsourced service provider to SFBF, under the stewardship of FBS. SFBF, along with Catharina Hillstrom as CEO and all current staff, will continue to manage the administration of Stibor and formally file 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).

The transfer of ownership will have no effect on, or result in any changes to, the administration of Stibor and the publication of the Stibor rates.