Polish benchmark transition hits new snag

Compounded index suspended over data errors as Wibor extension reopens successor debate


Banks in Poland are starting to have second thoughts about the risk-free rate that is due to replace the legacy Warsaw Interbank Offered Rate at the end of 2027. 

Poland’s national working group (NWG) on benchmark reform selected the Warsaw Interest Rate Overnight, or Wiron, as the preferred replacement for Wibor in September 2022. The government immediately set out plans to complete the transition by the end of 2024 as part of a package of measures aimed at easing the pain of rising interest

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