KNF Consults on WIBOR Benchmark Replacement for Polish Banks
Summary
The National Working Group on Benchmark Reform, coordinated by KNF Poland, has published a draft Recommendation on determining interest rates for new agreements and replacing the WIBOR reference rate in existing Polish Zloty (PLN) agreements. The consultation invites public participation on the proposed framework. This marks a significant step in Poland's benchmark rate reform, aligning with global efforts to transition away from IBOR-style reference rates to risk-free rates.
What changed
The National Working Group on Benchmark Reform, under KNF Poland's coordination, has released a draft Recommendation establishing the framework for determining interest rates in new agreements and transitioning existing PLN agreements from the WIBOR reference rate. The consultation seeks public input on the proposed approach to benchmark replacement. This initiative forms part of the broader global benchmark reform following the transition away from LIBOR and similar interbank offered rates.
Banks, mortgage lenders, and other financial institutions offering PLN-denominated products will need to monitor this consultation closely. The eventual final Recommendation will govern how interest rates are determined in new contracts and how legacy WIBOR-based agreements are transitioned. Financial institutions should participate in the consultation to ensure the proposed framework is workable and consistent with their existing product structures and customer obligations.
Archived snapshot
Apr 21, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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The National Working Group on Benchmark Reform invites to participate in the public consultation of the draft Recommendation on determining interest rates for new agreements and replacing the WIBOR reference rate in existing PLN
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13 April 2026
The National Working Group on Benchmark Reform invites financial market stakeholders to participate in the public consultation of the draft Recommendation on determining interest rates for new agreements and replacing the WIBOR reference rate in existing PLN-denominated discount product agreements.
The public consultation will remain open until 30 April 2026.
Comments on the draft Recommendation should be submitted by email to: konsultacjengr@knf.gov.pl
For download
Recommendation on determining interest rates for new agreements and replacing the WIBOR reference rate in existing PLN-denominated discount product agreements
file .pdf, 297.9kB Download
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