New WIBOR?
Polish Financial Supervision Authority She informed on December 10 last year that the index with the working name Wirf- was elected by the Control Committee of the National Working Group (KS NGR) for the reform of reference indicators – as a proposal of the target reference rate of the interest rate, which would replace the WIBOR indicator
“I assume that this week we should learn the target name of the indicator (which will replace WIBOR – PAP). We are already after the decision of the control committee, which was taken last Friday. At the moment we are formulating an official message National Working Group About the choice of this target name, “said Białek.
The selection of index proposals was preceded by the process of reviewing and analyzing alternative indicators for WIBOR FREE RATE started on March 29, 2024. This review was aimed at verifying the decision of KS NGR taken in September 2022, based on a wider scope of market analyzes and information “in a dynamically changing macroeconomic environment of the Polish economy”.
Working name
Ultimately, the indicator with the working name WIRF – It is to be a key reference rate of the interest rate within the meaning of the BMR Regulation, which will be able to be used in financial contracts (e.g. credit contracts), financial instruments (e.g. debt papers or derivative instruments) and by investment funds (e.g. in determining management fees ).
According to the so -called A road map currently used on the market WIBOR reference indicator, on which, for example, the interest rate on loans or bonds depends, it is to be replaced by the end of 2027 by the new indicator. (PAP)
