TONAR
Tokyo Overnight Average Rate (TONAR) is an unsecured interbank overnight interest rate and reference rate for Japanese yen.[1][2]
History[]
Since 2016, the Bank of Japan has recommended TONAR as the preferred risk free reference rate.[3]
TONAR is recommended as a replacement for yen LIBOR, which is being phased out at the end of 2021.[2][4]
References[]
- ^ https://www.bakermckenzie.com/en/insight/publications/2017/11/libor-where-things-now-stand[dead link]
- ^ a b "EXPLAINER-What is SOFR? The new U.S. Libor alternative". Reuters. 3 April 2018.
- ^ "Libor Reform – What You Need to Know". 26 September 2017.
- ^ "Libor Enters 'Final Chapter' as Global Regulators Set End Dates". Bloomberg.com. 5 March 2021. Retrieved 10 March 2021.
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