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LIBOR Transition based on the Final Report on the Results of the Public Consultation on the Treatment of Tough Legacy Contracts in Japan published by the Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks

November 25, 2021
Bank of Japan

In Japan, the Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks has discussed the way to use synthetic yen LIBOR on the assumption that it will be published, and published the Final Report on the Results of the Public Consultation on the Treatment of Tough Legacy Contracts in Japan on November 19, 2021.

In consideration of the above report, the Bank of Japan (BOJ) and Financial Services Agency (FSA) have sent a joint letter to financial institutions through relevant associations.