Result of a Periodic Review of the JBA TIBOR Operational Framework

March 31, 2026

General Incorporated Association JBA TIBOR Administration

　JBA TIBOR Administration ("JBATA") (the Chairperson: Satoshi INOUE) conducted a periodic review of the JBA TIBOR operational framework pursuant to Article 48 of the JBA TIBOR Operational Rules.

　As a result of the periodic review, JBATA has concluded that it is not necessary to change the Japanese Yen TIBOR operational framework based on its evaluation that structural changes of the underlying market have not been observed and the reasonableness of the basis for submission rate calculation by reference banks is considered to be appropriate.

　JBATA will be committed to maintaining compliance with the IOSCO Principles and enhancing the transparency, robustness and reliability of JBA TIBOR.

Result of a Periodic Review of the JBA TIBOR Operational Framework

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