Framework for transaction-based interest rate SWESTR

Underlying regulatory framework

The Executive Board has decided to provide the transaction-based reference rate SWESTR, as well as average rates and index based on SWESTR. The division of responsibilities for the administration of SWESTR between the departments is regulated in the Riksbank’s Rules of Procedure.

Like the other central banks that provide reference rates, the Riksbank complies, where applicable and relevant, with the principles for financial benchmarks adopted by the International Organisation of Securities Commissions (IOSCO).

The IOSCO principles were drawn up to increase the reliability of reference rates and contribute to good governance, control, transparency and quality in the determination of reference rates. The principles specify the arrangements that an administrator of a reference rate should have in place and constitute international best practice for, inter alia, the administration and oversight of reference rates.