Norske Finansielle Referanser AS (NoRe) is established and owned by Finance Norway with the purpose to administer financial benchmarks. NoRe has approval from the Norwegian Ministry of Finance to act as administrator for the Norwegian Interbank Offered Rate (Nibor).
Nibor is a collective term for Norwegian money market rates at different maturities. Nibor is intended to reflect the interest rate level a bank require for unsecured money market lending in NOK to another bank. Nibor is calculated and published by Oslo Børs with maturities of one week, one month, two months, three months and six months.
The Nibor framework consists of the Nibor Rules supplemented with guidelines. The rules describe what the interest rates represents, the requirements laid on the suppliers of data (the panel banks) and how the rates are to be calculated and published.
Consultation on changes to the Nibor methodology - August/September 2019
NoRe published August 20, 2019 a consultation on changes to the Nibor methology. The proposal is based on the requirements in the EU Benchmarks Regulation (BMR) and the existing definition of Nibor. The consultation report (in Norwegian) is available here. An English summary is given in a newsletter. Comments are recieved until October 2, 2019 on firstname.lastname@example.org.
Access fee - distribution and/or use of Nibor information
Global Rate Set Systems Ltd. (GRSS) will as from September 30th, 2019 take over the tasks as calculating agent and licensing agent for Nibor. New subscribers as from September 30th must engage in an agreement with NoRe through GRSS.
For current subscribers Oslo Børs will continue as primary distributor until the end of 2019 on existing terms. Subscribes should obtain a new subscription before December 15th to make sure uninterrupted access to Nibor.
For more information please see our newsletter published September 10th, 2019.
- 10.09.2019: Nibor - Subscriptions to access data
- 20.08.2019: Nibor: New methodology - Public consultation
- 21.06.2019: Nibor - New calculation and licensing agent
- 30.11.2018: New deadline for Nibor submissions
- 05.09.2018: NoRe has updated its prices for 2019
- 08.01.2018: IOSCO - Matters to consider in the use of financial benchmarks
- 2.1.2018 Access fee from 2018 - distribution and_or use of Nibor information
- 1.12.2017: Revised guidelines for panel banks' Nibor submissions
- 1.9.2017: Launch of NoRe website
- News - archive
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The Nibor framework
- Guidelines for panel banks' Nibor submissions
- Principles for the correction of Nibor
- Guidelines for the compliance committee
- Guidelines for the monitoring body
DNB Bank ASA
Nordea Bank ABP
Complaints / Whistleblowing