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

March 31, 2026

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 the self‑assessment, JBATA evaluates that the operational framework of JBA TIBOR has been developed and implemented in compliance with the IOSCO Principles, following the implementation of the First Phase of the JBA TIBOR Reform on July 24, 2017, and the subsequent Second Phase of the JBA TIBOR Reform, which is the phase that addressed the remaining issues under Principle 7 and Principle 13 to further enhance transparency, robustness, and reliability.

　JBATA is continuously committed to further enhancing the transparency, robustness and reliability of Japanese Yen TIBOR. For example, effective March 2026, JBATA revised the number of decimal places for submission rates (from the second decimal place to the third decimal place) in light of market conditions. In addition, 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