15:03 26 March 2019
EC recognizes WIBOR as key reference indicator
Warsaw Interbank Offered Rate (WIBOR) has been recognized by the European Commission as the key reference indicator, according to the entry on March 25 in the Official Journal of the European Union.
The recognition of WIBOR means that the WSE Benchmark – WIBOR administrator – will have two years more than previously, until December 31, 2021, to adjust national money market benchmarks to the requirements of the EU regulation. According to financial watchdog KNF, WIBOR is used as a reference rate for 60 percent of all loans granted to households and for 70.1 percent of outstanding mortgage loans, in terms of value. In case of mortgage loans concluded since 2013, WIBOR is the reference rate for 98.5 percent of all loans.
(PAP)
