November 2025
Summary of consultations on Change of Method of WIBOR for 1Y Fixing Tenor during the run-off period
GPW Benchmark presents Summary of consultations on Change of Method of WIBOR for 1Y Fixing Tenor during the run-off period.
To download the Summary, click here.
October 2025
Consultation paper: Change of Method of WIBOR for 1Y Fixing Tenor during the run-off period
GPW Benchmark presents the Consultation paper: Change of Method of WIBOR for 1Y Fixing Tenor during the run-off period.
To download the Consultation paper, click here.
To download the Annex 1 Calibration of the dynamic adjustment spread method, click here.
To download the Annex 2 Interest rates on loans based on WIBOR1Y, click here.
To download the Annex 3 Sensitivity analysis of volatility measures to the correction coefficient, click here.
April 2024
Summary of the public consultation on the change of the method for provision of the WIRON benchmarks
GPW Benchmark presents Summary of the public consultation on the change of the method for provision of the WIRON benchmarks.
To download the Summary, click here.
March 2024
Consultation paper regarding the change of the methodology for provision of the WIRON benchmark
GPW Benchmark presents the Consultation paper regarding the change of the methodology for provision of the WIRON benchmark.
To download the consultation paper, click here.
The Administrator publishes the time series of WIRON indices calculated with the changed parameters of the WIRON method.
To download the file, click here.
December 2023
Summary of public consultations on the discontinuation of provision of the WIBID and WIBOR Reference Rates for the 1Y Fixing Tenor
GPW Benchmark presents Summary of public consultations on the discontinuation of provision of the WIBID and WIBOR Reference Rates for the 1Y Fixing Tenor.
To download the Summary, click here.
August 2023
Discontinuation of provision of WIBID and WIBOR Reference Rates for 1Y Fixing Tenor - Consultation Paper – 2023
GPW Benchmark presents the Consultation Paper regarding discontinuation of provision of WIBID and WIBOR Reference Rates for 1Y Fixing Tenor.
To download the Consultation Paper, click here.
January 2023
Analytical supplement to Public Consultation Results with substantive conclusions on the method of developing RFR-benchmarks – 2023 (an update of a document published in November 2022)
GPW Benchmark presents Analytical supplement to Public Consultation Results with substantive conclusions on the method of developing RFR-benchmarks, including the analysis of impact of historical data revision carried out by data contributors and description of new elements of the index method. The document and analysis were updated after the Data Transmission Audit and revision of historical data. The scope of analyses in the document has been maintained while the information has been extended to include some new attachments. The previous version of the document is available below.
To download the document, click here.
To download the previous version of the document, click here.
August 2022
Public consultation results - substantive conclusions on the method of developing RFR-benchmarks - 2022
GPW Benchmark publishes public consultation results with substantive conclusions on the method of developing RFR- benchmarks including term indices for predefined periods and RFR compound indices.
Following public consultation process and additional analysis and consultations held within the national working group for the reform of benchmarks, GPWB has revised some parameters of the methodology for preliminary ON indices.
To download the Consultation Paper, click here.
May 2022
Transaction-based Interest Rate Benchmarks - Consultation Paper - 2022
GPW Benchmark presents a Consultation Paper on the Transaction-based Interest Rate Benchmarks. The document present set of information presenting the results of research and analysis regarding indexes developed by the Administrator on the basis of the data provided (from the time of full technological adaptation to the documentation of WIBID and WIBOR Reference Rates) in an automated manner by the Polish banks. The results of the calculation of the test versions of the indices described in the document are available on the Administrator's website.
To download the Consultation Paper, click here.
October 2019
Consultation Paper Summary GPW Benchmark 2019
We are hereby presenting the material being a summary of the consultation process conducted by GPW Benchmark regarding the adjustment of the provision method of WIBID and WIBOR reference rates to the requirements of Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014. The subject of this document is GPW Benchmark's feedback to stakeholders' comments on the assumptions concerning the adjustment of WIBID and WIBOR reference rates presented in GPW Benchmark 2019 Consultation Paper – WIBID and WIBOR under the Benchmark Regulation, including the proposed Waterfall Method.
In order to download the document please click here.
July 2019
GPW Benchmark’s Consultation Paper – WIBID and WIBOR under Benchmark Regulation
GPW Benchmark has published the Consultation Paper - WIBID and WIBOR under Benchmark Regulation (BMR) which presents the effects of thorough economic, statistical and legal analysis and consultation carried out in order to meet the BMR requirements while ensuring the continuity of the WIBID and WIBOR reference rates.
The Consultation Paper was distributed on July 22nd, 2019 among the main professional and institutional stakeholders: Fixing Participants, financial safety net institutions (National Bank of Poland, the Ministry of Finance, the Polish Financial Supervision Authority, the Bank Guarantee Fund), the government administration authorities competent for consumer protection, as well as GPW Benchmark counterparties – signatories of the Agreement for the Use of WIBID and WIBOR Reference Rates under which those counterparties are licensed to use the WIBID and WIBOR in their financial contracts, instruments or to measure the investment fund performance. With a distribution of the Consultation Paper, GPW Benchmark has commenced an official consultation process ending on September 10th, 2019.
The analytical process carried out by GPW Benchmark led to construction of a theoretical WIBOR Index. The WIBOR Index represents an idea of the WIBID and WIBOR reference rates developed in compliance with the BMR rules regarding interest rate benchmarks, yet, upholding the key elements of the methodology of WIBID and WIBOR reference rates. The quantitative and qualitative tests have been carried out. The Consultation Paper presents the comparison of the WIBOR Index, calculated on the basis of a method adapted to the BMR standards, with the historical performance of the WIBID and WIBOR reference rates. The adjustment proposed by the GPW Benchmark refers mainly to rules regarding preparation of the input data and merges key elements of WIBID and WIBOR methodology with the BMR input data priority recommendation detailed in Annex 1 of the BMR.
GPW Benchmark is strongly committed to deliver high quality indices and benchmarks, compliant with the BMR in order to ensure more safety for the financial system. The representativeness and reliability of the indices and benchmarks will enhance the confidence of the end users, credit and financial institutions, corporations, and, especially, consumers. The scope and character of the WIBID and WIBOR reference rates methodology adjustment provides the benchmark administrator with the flexible tool adjustable to the developments of the financial market and of the economic reality.
In order to download the document please click here.
October 2018
Consultation Paper – Executive Summary
GPW Benchmark presents a wrap-up of Fixing Participants responses to the Consultation Paper. Continuity of benchmark after expiry of the transitional period was unanimously emphasized as fundamental by all institutions. Panel banks’ presented stance on potential waterfall benchmark calculation methodologies, proposals on alternative benchmarks and factors affecting activity on domestic money market.
In order to download summary click here