Consultation on the Riksbank’s new reference rate

News The Riksbank will start to publish a new reference rate for the shortest maturity in Swedish kronor (SEK). The Riksbank now invites external stakeholders to provide comments and views on the design of the reference rate proposed by the Riksbank. The rate will be based on the transactions reported to the Riksbank every day by its monetary policy counterparties.

The new reference rate will affect many stakeholders once it starts to be used. A reference rate works as a common benchmark in the pricing of not only financial contracts such as debt securities, but also variable-rate loans for households and companies.

Following a decision on the final design, the Riksbank plans to initiate a test period in January 2021, when it will publish a provisional rate before starting to publish the final reference rate.

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Updated 07/10/2020