IBOR Transition - DZ BANK AG

The international reference interest rate landscape is currently undergoing fundamental changes. DZ BANK remains a reliable partner for its customers in this situation.

The following reference interest rates (benchmarks) are particularly affected by these changes:

EONIA / LIBOR: These rates will no longer be published from the end of 2021 (or shortly thereafter); transactions and contracts relating to these rates must be adjusted by that time.

EURIBOR: This rate has been reformed and can continue to be used without
restrictions.

Effective Fed Funds Rate (EFFR): A switch to SOFR (Secured Overnight Financing Rate) is currently being discussed in the market.

Working groups have been formed in the various jurisdictions, which have developed almost risk-free reference interest rates (RFR) as alternatives to the previous reference rates. The new risk-free reference rates are intended to replace the previous reference rates in contracts and transactions.

In addition, specific fallback provisions are to be agreed upon in contracts for the possible future elimination of reference interest rates.

 

Customer Service

Transactions Affected, Specific Customer Information

Find Out More:

Background Information

Background of the reform

Timeline

Review and outlook

Risk Free Rates (RFR)-Benchmarks

Overview of the most important RFR benchmarks

Related Links

Working groups worldwide