Mar.13.2014

Japanese Bankers Association

Establishment of JBA TIBOR Administration

　We are pleased to announce that the Japanese Bankers Association (Chairman: Takeshi Kunibe) ("JBA") has decided to establish "JBA TIBOR Administration" ("JBATA") on April 1, 2014 and start operating JBATA on the same day, pursuant to "Report on the Review of JBA TIBOR Administration" released on December 27, 2013.

　JBATA will take over the calculation and publication of "JBA TIBOR" that JBA has been undertaking, effective April 1.

　JBATA will seek to maintain and enhance the credibility and transparency of JBA TIBOR and be committed to strengthen the administration of JBA TIBOR, through establishing and maintaining a framework in accordance with the IOSCO's "Principles for Financial Benchmarks" ("IOSCO Principles"), so that JBA TIBOR will be recognized internationally as a benchmark that is in line with the IOSCO Principles and will continue to be used widely as a representative benchmark for Japanese yen interest rates.

　Below is the overview of the JBATA.

 

Name
(Acronym)		Ippan Shadan Hojin (or General Incorporated Association) JBA TIBOR Administration
(JBATA）
Executive OfficersDirectors (5), Auditor (1) （see Annex）
Address1-3-1 Marunouchi, Chiyoda-ku, Tokyo
Date of EstablishmentApril 1, 2014
ObjectivesTo contribute to development and sound growth of the short-term financial markets, through operation regarding the administration of JBA TIBOR.
Description of Business
  • Calculation and publication of JBA TIBOR
  • Publicity activities and management of complaints and inquiries regarding JBA TIBOR
  • Development, revision and abolition of rules and guidelines on the administration of JBA TIBOR
  • Development, revision and abolition of Code of Conduct for reference banks, and monitoring of compliance of Code of Conduct and rate submission by reference banks
  • Development and management of organization regarding the administration of JBA TIBOR
  • Development and management of organization for maintaining the credibility and transparency of the administration of JBA TIBOR
Organizational Structure
  • JBA TIBOR Planning Committee
    Comprised of directors of related banks. and its primary responsibility is to review and discuss matters related to the organization of JBATA
  • JBA TIBOR Administration Committee
    Comprised of directors of related banks and its primary responsibility is to review and discuss administrative matters on JBA TIBOR
  • JBA TIBOR Oversight Committee (see Annex)
    Comprised of lawyers, accountants, academic experts, and other experts, and its primary responsibilities are to monitor of compliance of Code of Conduct and rate submission by reference banks
  • JBA TIBOR Operation Department and JBA TIBOR Internal Audit Office
    Their primary responsibilities are operations related to rate calculation and publication, organizational management and internal audit.
websitehttp://www.jbatibor.or.jp/ (effective April 1)

 

【Inquiries】 Tsurumi (Mr.), Hasegawa (Mr.), Nagata (Mr.) (Tel.03-5252-3763)