Compliance with 'Principles for Financial Benchmarks - Final Report - ("IOSCO Principles")'

March 31, 2024

General Incorporated Association JBA TIBOR Administration

　JBA TIBOR Administration ("JBATA") (the Chairperson: Satoshi INOUE) is pleased to publish "Compliance with 'Principles for Financial Benchmarks - Final Report - ("IOSCO Principles")'" which is the results of self-assessment on whether the operational flamework of JBA TIBOR has been developed and implemented in compliance with IOSCO Principles published by the International Organization of Securities Commissions.

　As described in the results of self-assessment, JBATA recognizes a remaining issue for Principle 7 (Data sufficiency) from a perspective of further enhancing the transparency, robustness, and reliability of JBA TIBOR. However, JBATA has decided on the permanent cessation of all tenors of Euroyen TIBOR at the end of December 2024[1]. Therefore, JBATA plans to describe in the next self- assessment results published after the permanent cessation of Euroyen TIBOR (at the end of 2024) that "A remaining issue for Principle 7 has been resolved."

　JBATA will be committed to maintaining and enhancing the transparency, robustness and reliability of Japanese Yen TIBOR, and will implement measures so that Japanese Yen TIBOR will continue to be internationally recognized as the benchmark that is compliant with the IOSCO Principles and to be widely used as one of the major JPY interest rate benchmarks.

Compliance with 'Principles for Financial Benchmarks - Final Report - ("IOSCO Principles")'

[Inquiries] General Incorporated Association JBA TIBOR Administration
Email：contact＠jbatibor.or.jp

[1] https://www.jbatibor.or.jp/english/Statement_on_future_cessation_of_Euroyen_TIBOR.pdf