Publication of the Key Results of the Survey on JBA TIBOR Exposures
May 31, 2022
General Incorporated Association JBA TIBOR Administration
JBA TIBOR Administration (Chairman Akihiro Wani) ("JBATA") conducted Survey on JBA TIBOR Exposures with a view to understanding the actual conditions of financial instruments and transactions referencing JBA TIBOR (Euroyen TIBOR and Japanese Yen TIBOR), such as the amounts outstanding and number of contracts, and has summarized its key results in Appendix 1 (Euroyen TIBOR) and Appendix 2 (Japanese Yen TIBOR) .
Following the results of this survey, JBATA will continue to discuss the possibility of permanent cessation of Euroyen TIBOR,which is currently deemed as the most likely option and will also commit to enhance the robustness of the Japanese Yen TIBOR.
JBATA would like to note that we may conduct the exposure survey on an ongoing basis as necessary in light of the development of discussions on the permanent cessation of Euroyen TIBOR.
【Summary of the Survey on JBA TIBOR Exposures】
|Survey reference date||End-2021|
Surveyed financial institutions
|Major banks||９||Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, Resona Bank, Shinsei Bank, Aozora Bank, Mitsubishi UFJ Trust and Banking Corporation, Mizuho Trust & Banking, and Sumitomo Mitsui Trust Bank|
|Other banks||39||8 trust banks that are excluded from the major banks, 12 other Japanese banks, 16 foreign bank branches, Japan Post Bank, Norinchukin Bank, and Shinkin Central Bank|
|Securities companies||33||19 major Japanese securities companies and 14 foreign securities companies|
|Insurance companies||96||42 life insurance companies and 54 non-life insurance companie|
|・The amounts outstanding (or notional amounts) and number of contracts of Loans, Bonds, Derivatives and other transactions that reference Euroyen TIBOR or Japanese Yen TIBOR
・With respect to Euroyen TIBOR, of these amounts outstanding and contracts, those that will mature beyond end-2024
[Inquiries] General Incorporated Association JBA TIBOR Administration
 The timing of the permanent cessation of Euroyen TIBOR, if adopted, would be at the end of December 2024.
 Unlike Euroyen TIBOR, the permanent cessation of Japanese Yen TIBOR is not currently considered.
 JBATA intends to undertake a public consultation on fallback issues for JBA TIBOR around the summer of 2022.