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Banking industry body to explore alternatives to Swedish interbank offered rate

The Swedish Bankers' Association has formed a working group tasked to study and develop alternatives to the Stockholm interbank offered rate, or Stibor, which is used as a reference rate for financial contracts.

The working group will conduct roundtable discussions and open consultations with financial market participants, with a view of delivering a proposal during the latter part of 2019.

The working group is administrated by the Swedish Bankers' Association and consists of the panel banks for Stibor.

The Swedish central bank, the National Debt Office, the country's financial supervisory authority and the bankers' association will act as observers in the working party.