Only a small number of JPY LIBOR contracts remain that still need to complete the transition, but USD LIBOR rates are "still widely used" by Japanese FIs and corporates.
June 9, 2022The fallback procedure has been updated to allow publication based on Tokyo Swap Rate (for swaps referencing TONA) plus a spread adjustment.
February 5, 2022The Tokyo Swap Rate Fallback is based on a static spread adjustment and the Tokyo Swap Rate (for swaps referencing TONA), which was launched in October.
December 13, 2021The new versions of the Tokyo Swap Rate are designed to support the transition away from LIBOR and the adoption of new market conventions.
October 29, 2021OIS transactions based on TONA and TIBOR increased in July, suggesting alternative rates to JPY LIBOR are gaining traction.
August 6, 2021The December 2020 figure is down only slightly from the $27.5tr of contracts referencing LIBOR 18 months earlier at the end of June 2019.
May 20, 2021Li Renn Tsai compares progress in Asia’s main trading hubs, warning of a logjam of transition-related operational work that will pile up towards year-end.
May 18, 2021New interest rate swaps referencing JPY LIBOR and maturing after the end of 2021 should cease by end-September 2021.
April 20, 2021QUICK Benchmarks, formed in January 2021, has been publishing TORF prototype rates weekly since May 2020 and daily since October 2020.
April 7, 2021JBA TIBOR Administration plans to consult on its intent to retain yen TIBOR and discontinue euroyen TIBOR at end-2024, as well as the specifics and timing of the reform.
March 31, 2021