Accepting Applications for JBA TIBOR Reference Bank

JBA has started accepting applications to be JBA TIBOR reference banks for fiscal 2004.JBA has published the Japanese Yen TIBOR since November 1999 and Euroyen TIBOR since March 2002. The TIBOR publication rules stipulate that "reference banks should be reviewed at the end of each fiscal year based on the market trading volume." The review for the Japanese yen TIBOR focuses on the Japan unsecured call market and for the Euroyen TIBOR on the Japan offshore market.Financial institutions that desire to be designated reference banks are required to submit application forms and statistical data on their trading volumes by January 16, 2004. (The application form, data format and publication rules are available on the JBA Website (only in Japanese)).JBA will select new reference banks by the end of March 2004 based on the submitted data according and in line with published rules.For details, please contact the Business Development Department of JBA (TEL: 03-5252-3767).