National Working Group Recommends WIBOR Replacement Rate for Debt Securities
Summary
The Steering Committee of the National Working Group on benchmark reform adopted a recommendation on the application of a replacement rate for the WIBOR reference rate in debt securities. This recommendation provides guidance on transitioning away from WIBOR, following international benchmark reform initiatives. Affected financial institutions in Poland should monitor ongoing developments regarding the implementation of the replacement rate for existing and new debt instruments.
What changed
The Steering Committee of the National Working Group on benchmark reform adopted a recommendation concerning the application of a replacement rate for the WIBOR reference rate in debt securities. This follows broader international efforts to reform interbank offered rates (IBOR) following concerns about their robustness and reliability.
Financial institutions operating in Poland with exposure to WIBOR-linked debt securities should monitor for further guidance on implementation timelines and transition arrangements. Banks, asset managers, and other financial intermediaries holding or issuing debt instruments referencing WIBOR will need to assess the impact of the recommended replacement rate on existing contracts and documentation.
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 Steering Committee of the National Working Group on benchmark reform adopted a recommendation on the application of a replacement rate for the WIBOR reference rate in debt securities
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10 April 2026
The Steering Committee of the National Working Group on benchmark reform adopted on 10 April 2026 a recommendation on the application of a replacement rate for the WIBOR reference rate in debt securities, in particular with respect to previously issued debt instruments (legacy portfolio).
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Recommendation on the application of a replacement rate for the WIBOR reference rate in debt securities
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