Payments and Markets

Home > Payments and Markets > Money Market > Cross-Industry Forum on Interest Rate Benchmarks

Cross-Industry Forum on Interest Rate Benchmarks

The Cross-Industry Forum on Interest Rate Benchmarks was established in March 2022 following the reorganization of the Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks. The Forum provides opportunities to exchange opinions for a wide range of market participants and interest rate benchmark users, aiming to facilitate smooth transactions referencing Japanese yen interest rate benchmarks in the Japanese markets.

Terms of Reference and List of the Participants

Table : Terms of Reference and List of the Participants
Date Title
Sep.  9, 2022 List of the Participants [PDF 214KB]
Mar.  2, 2022 Terms of Reference [PDF 214KB]

Other Releases

Table :Other Releases
Date Title
Mar.  2, 2022 Establishment of the "Cross-Industry Forum on Interest Rate Benchmarks" 

Agenda and Meeting Materials

Table : Agenda and Meeting Materials
Date Title
Sep.  9, 2022 Second Meeting of the Cross-Industry Forum on Interest Rate Benchmarks 
Apr. 21, 2022 First Meeting of the Cross-Industry Forum on Interest Rate Benchmarks 

Links to Related Websites

Links to related websites are available on Links to Related Websites of the "Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks".

  • Bank of Japan and Financial Services Agency
  • National Working Groups and Related Associations, etc.

Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks

The Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks, established in August 2018, has conducted necessary deliberations with aims to facilitate market participants and interest rate benchmark users to appropriately choose and use Japanese yen interest rate benchmarks.

Study Group on Risk-Free Reference Rates

The Study Group on Risk-Free Reference Rates has conducted necessary deliberations on the identification of a Japanese yen nearly risk-free benchmark rate and usage of the rate since April 2015.