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

March 31, 2025

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, while JBATA recognized a remaining issue for Principle 7 (Data sufficiency) from a perspective of further enhancing the transparency, robustness, and reliability of JBA TIBOR, JBATA considers that the issue has been resolved on the basis that the publication of all tenors of Euroyen TIBOR has permanently ceased at the end of December 2024. Therefore, as of the assessment base date, JBATA believes that there are no additional issues to be addressed under the IOSCO Principles.

　JBATA will be committed to further enhancing the transparency, robustness and reliability of Japanese Yen TIBOR. For example, as of the assessment base date, JBATA understands the potential need to consider partial revisions to the waterfall methodology of Japanese Yen TIBOR (e.g. revision of the use of data in the Japan Offshore Market in the 2nd Level), and will update the progress of the discussion in our future self-assessment results.

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

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