Central Banking

BoJ sets out goals for interest rate benchmark reform

The Bank of Japan
The Bank of Japan

The Bank of Japan has set up a working committee of senior bankers to create a yen interest rate benchmark to replace Libor.  

This committee consists of representatives from 20 banks and 11 observers from nine official bodies or industry associations. The Bank of Japan has three representatives and provides the committee’s secretariat, according to the minutes of the committee’s first meeting on August 1, published on August 23. Japan’s Financial Services Agency also has a representative on

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