IBA rolls out Sonia indexes for lending markets

Alternative to BoE index includes 0% floors and support for both lag and shift conventions

Ice London city rates
Risk.net montage

Ice Benchmark Administration (IBA) has begun publishing a series of Sonia indexes aimed at loan issuers seeking an alternative to an official version launched by the Bank of England in August.

The indexes are designed to simplify the calculation of compounded-in-arrears rates and should be available for use in loan contracts from April 1, when sterling Libor lending is due to cease. 

The market had been expected to coalesce around the BoE’s index, but conventions for calculating interest

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here