SNB replaces Libor with new reference rate

swiss-national-bank-snb-2
The Swiss National Bank

The Swiss National Bank has replaced the London interbank offered rate, or Libor, with an existing index as a reference rate for its monetary policy decisions, it announced today (June 13).

The central bank will move from the three-month London interbank offered rate to the Swiss average overnight rate, called Saron. The rate was first introduced to the Swiss market in August 2009, after being developed in collaboration with the Swiss stock exchange.

The move follows the financial system’s

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: