Authorisation as an administrator of STIBOR – FI assesses that the application is complete

The Swedish Financial Supervisory Authority, Finansinspektionen (FI), has published a press statement to announce that the application of the Swedish Financial Benchmark Facility AB (SFBF) to become a benchmark administrator is now complete and will be assessed shortly. Specifically, SFBF had applied to become an administrator of STIBOR, the Stockholm Interbank Offered Rate, under the European Union Benchmarks Regulation (BMR) on December 27, 2021, but not all application requirements were met. While Finansinspektionen (FI) is now evaluating this application which may take no longer than four months from the day of completion (January 2, 2023), financial market participants may still use STIBOR in financial instruments and contracts, so FI.