Financial Benchmarks Sweden AB and the banks that set Stibor have together developed a framework for Stibor. This framework establishes a clear structure for governance and control as well as transparency regarding price setting. It also contains rules for how Stibor banks shall be appointed. The Riksbank and Nasdaq participates in the work as observers.
Some important features of the Stibor framework are that:
- a Stibor Committee, within the Financial Benchmarks Sweden AB, is responsible for the framework and monitors the application of the framework
- the process for setting Stibor is transparent
- the conditions for new banks to join are clarified
- Stibor is set for tomorrow next, 1 week and 1, 2, 3 and 6 months.