Swedish Financial Benchmark Facility takes over the calculation and administration of Stibor
The Swedish Financial Benchmark Facility's parent company GRSS (Global Rate Set Systems Ltd) has deep knowledge as well as experience with benchmarks and the Benchmark Regulation (BMR), which covers, among other things, reference rates. GRSS is the calculation agent for European Euribor and for Norwegian Nibor. They are, through national subsidiaries, authorized administrators according to BMR for Danish Cibor and for Czech Pribor.
The European Commission has decided that Stibor is a critical benchmark in Sweden. According to the transitional provisions of the Benchmark Regulation, critical benchmarks shall be adapted to the new legislation before the end of 2021.
In 2020, SFBF will submit an application for authorization under the Benchmark Regulation to the Swedish Financial Supervisory Authority. During a thorough tendering process, the GRSS group has shown that they are well qualified to guide Stibor through an authorization process. Should an authorization not be granted, the responsibility for Stibor returns to FBS.
With GRSS experience, the Bankers’ Association and FBS look forward with confidence to the continued safe and transparent administration of Stibor through GRSS's Swedish subsidiary SFBF.
As SFBF has taken over the calculation of Stibor, the distribution of Stibor fixing is handled by SFBF. For more information on how Stibor data can be obtained please refer to SFBF’s website.