The Riksbank's role as administrator of SWESTR

In December 2019, the Executive Board of the Riksbank decided that the Riksbank would provide a new transaction-based reference rate in Swedish kronor. The Riksbank collects the transaction data that forms the basis for the reference rate, and calculates and publishes this every banking day. In its role as administrator for SWESTR, the Riksbank is also responsible for its governance, as well as for ensuring it is appropriately designed.

Having the Riksbank provide SWESTR is a cost-effective solution for society, among other reasons because the Riksbank already collects relevant transaction data from the monetary policy counterparties. In addition, it may strengthen credibility for SWESTR that the Riksbank, in the capacity of central bank, stands behind it. As well as that, it is common, from an international perspective, that central banks act as administrators of the new transaction-based reference rates.

The Markets Department operationalises the Riksbank’s role as administrator of SWESTR.