Swedish Financial Benchmark Facility AB receives authorisation as administrator of STIBOR under BMR

The Swedish Financial Supervisory Authority, Finansinspektionen (FI), has published a press release relating to the application of the Swedish Financial Benchmark Facility AB (SFBF) to remain a benchmark administrator of the STIBOR, the Stockholm Interbank Offered Rate, under the European Union Benchmarks Regulation (BMR). The reapplication was necessary following the implementation of the BMR which sets out far-reaching requirements pertaining to „control, oversight, documentation and transparency for administrators“.
FI has now finished its analysis of the application which was submitted to Finansinspektionen on December 27, 2021 and found SFBF to meet all the requirements under the revised BMR. Thus, the company may continue to provide STIBOR to the market and market participants may continue to use STIBOR in financial instruments and contracts.
The register of benchmark administrators of the European Securities and Markets Authority, ESMA, has been updated accordingly.