Refinitiv to Cease Publication of Tokyo Swap Rate for Swaps Referencing TIBOR

Refinitiv announced that it will cease publication of Tokyo Swap Rate (for swaps referencing TIBOR). The final publication will be at 15:30 (Tokyo time) on 31 March 2023.

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Tokyo Swap Rate is a Japanese yen (JPY) interest rate swap (IRS) benchmark family. Tokyo Swap Rate (for swaps referencing TIBOR) is part of the Tokyo Swap Rate benchmark family. Prior to issuing the cessation notice for Tokyo Swap Rate (for swaps referencing TIBOR) Refinitiv requested industry feedback via a consultation paper.

This announcement has no impact on any other Tokyo Swap Rate settings. Refinitiv will not publish a fallback for Tokyo Swap Rate (for swaps referencing TIBOR) after 31 March 2023.

Refinitiv reminds that users of Tokyo Swap Rate (for swaps referencing TIBOR) should take into account this cessation notice and ensure their contractual and other arrangements linked to the benchmark contain appropriate and robust fallback plans or other arrangements to address the cessation.