Notes on Referencing the JBA TIBOR in Association with the Change in JBA TIBOR Calculation/Publication Entity

July 4 , 2014

Ippan Shadan Hojin JBA TIBOR Administration

JBA TIBOR Administration that was newly established commenced the JBA TIBOR (Tokyo Interbank Offered Rate) calculation and publication operations on April 1, 2014. In response to this transition we summarized, for your reference, potential impacts and consequences on users of the JBA TIBOR as a result of the change in the JBA TIBOR calculation/publication entity as well as the planned reduction in tenors(※).

We would suggest JBA TIBOR users to consider necessary contractual arrangements, taking into account the contents of the attached document.

※ JBATA will reduce the number of tenors for which JBA TIBOR rates are published, from the current thirteen to six from April 1, 2015. The six continuing tenors will be 1 week, 1 month, 2 month, 3 month, 6 month, and 12 month while 4 month, 5 month, 7 month, 8 month, 9 month, 10 month, and 11 month tenors will be discontinued.

【Inquiries】 Ogura(Mr.), Yamada (Mr.) (Tel.03-5252-3722)