29/12/2023

Summary of public consultations on the discontinuation of  provision of
the WIBID and WIBOR Reference Rates for the 1Y Fixing Tenor

Communique of GPW Benchmark on the summary of public consultations

• The Administrator carried out the public consultations in view of the limited scope of application of the WIBOR for the 1Y Fixing Tenor and taking into account the lowest Transactionality Level assigned to this Fixing Tenor among all Fixing Tenors and implementing the recommendation of the Polish Financial Supervision Authority to carry out such consultations on the basis of the aforementioned premises.
• The responses of entities that participated in the consultations indicate that the optimal date for discontinuing the provision of the WIBID and WIBOR Reference Rates for the 1Y Fixing Tenor is January 2, 2025.
• This change affects the scope of Input Data contributed by Fixing Participants in a range of Committed Quotes and Model Quotes.
• Changes in the Administrator’s documentation will take place at the beginning of 2024, and technological changes will be made immediately thereafter by the Administrator, Fixing Participants, and distributors.
• The Administrator informs in advance about the discontinuation of provision of the 1Y Fixing Tenor from January 2,2025  in order to carry out necessary adjustments in the documentation or financial instruments and agreements that relate to the 1Y Fixing Tenor by entities applying it.

To download the summary, click here.