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JSCC Completes the Bulk Conversion of IRS Cleared Contracts referencing LIBOR (for swaption exercise) to those referencing TONA (OIS)

In January, 2003, Japan Securities Clearing Corporation (JSCC) was the first clearing organization licensed in Japan to conduct the CCP clearing under the Securities and Exchange Law (now called Financial Instrument Obligation Assumption Service based on the Financial Instruments and Exchange Law) and started Clearing cash transactions on Japanese Stock Exchanges. The commencement of JSCC’s Clearing Business combined the clearing of cash transactions, which used to be handled by each exchang...
Japan Securities Clearing Corporation Bulk Conversion Benchmark Reform Permanent Cessation
Source: jpx.co.jp

JapanFinancial Services Agency: Preparation For Permanent Cessation Of LIBOR

<p><span>On March 5, 2021, ICE Benchmark Administration (IBA) has announced that it intends to cease the publication of LIBOR based on the current methodology referencing rates provided by panel banks (panel-based LIBOR) immediately after end-2021 except for certain US dollar LIBOR settings. While LIBOR is mainly referenced in derivative contracts such as interest rate swaps, it is also quoted in a significant number of cash products including corporate loans and bonds. Additionally,...
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