05.09.2023

Consultation Paper “Discontinuation of provision of WIBID and WIBOR Reference Rates for 1Y Fixing Tenor”

Warsaw, 4 September 2023 r.

GPW BENCHMARK COMMUNIQUE ON THE CONSULTATION PAPER

Consultation Paper “Discontinuation of provision of WIBID and WIBOR Reference Rates for 1Y Fixing Tenor” and the start of the public consultation regarding the appropriate date for a secure discontinuation of the provision of the 1Y WIBID and WIBOR Reference Rates.

  • GPW Benchmark S.A. (Administrator) has published Consultation Paper on discontinuation of provision of WIBID and WIBOR Reference Rates for 1Y Fixing Tenor
  • The Administrator will hold a public consultation regarding the appropriate date for a secure discontinuation of the provision of the 1Y WIBID and WIBOR Reference Rates
  • The results of the consultation will be available on the GPW Benchmark’s website after the end and summary of the consultation.

GPW Benchmark launches public consultation in order to identify the closest recommended date of discontinuation of the provision of the 1Y WIBID and WIBOR Reference Rates. Consistently with the information contained in The Summary of the Cyclical Review of the WIBID and WIBOR Reference Rate Methods, the decision to conduct these consultations was made based on the recommendation of the Polish Financial Supervision Authority indicating the lowest level of usage of the Reference Rates for 1Y Fixing Tenor and the lowest Transactionality Level for this Fixing Term among all the Fixing Tenors being currently provided.

Consultation Paper “Discontinuation of provision of WIBID and WIBOR Reference Rates for 1Y Fixing Tenor” has been published on the GPW Benchmark’s website. The document presents the results of analysis concerning impact of the discontinuation of the provision of the WIBID and WIBOR Reference Rates for 1Y Fixing Tenor on the WIBID and WIBOR Reference Rates. The Administrator provides the Consultation Paper to the group of external stakeholders, which includes the Data Contributors, users of the index or benchmark, including primarily entities using the WIBID and WIBOR Reference Rates on the basis of a signed agreement, industry associations, the National Bank of Poland, public authorities and public administration.

The consultation will last till Monday, 2nd October 2023. The results of the consultation and its summary will be published on the Administrator's website.

To download the Consultation Paper, click here.