The Working Group on Sterling Risk-Free Reference Rates has published a summary of the responses it received to its March 2019 discussion paper on conventions for referencing SONIA in new financial contracts.
The discussion paper sought responses from interested market participants on considerations for SONIA conventions. Key matters upon which market participants responded were:
The Working Group has also published (i) a Working Paper on Loans Processing, designed to assist market participants in the operational processing of loans referencing alternative risk free rates such as SONIA; and (ii) a Priority List, setting out the Working Group's key priorities with regard to infrastructure developments for the transition to a risk-free rate.
View the Working Group's Statement and Summary of Responses.
View the Working Group's Working Paper on Loans Processing.
View the Working Group's Priority List.
View details of the Working Group's March 2019 Discussion Paper.
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