Bank of Russia to publish reviews of progress with benchmark reform

The global financial system — including the Russian financial sector — is set to complete until the end of this year a transition from the widely used series of IBOR interest rate benchmarks to alternative base rates. The national financial market remains largely reliant on LIBOR/EURIBOR benchmarks. Further details of global experience and progress with the benchmark reform in Russia are available in the first issue of ‘Semi-annual Review of Global Benchmark Reform and the Use of LIBOR/EURIBOR in the Russian Market’.