American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, announced today that the AFX’s American Interbank Offering Rate (AMERIBOR®) is in alignment with all nineteen Principles set forth by the International Organization of Securities Commission (IOSCO) for Financial Benchmarks.
The IOSCO Principles for Financial Benchmarks are intended to promote the reliability of benchmark determination and address benchmark governance, quality and accountability. IOSCO’s nineteen principles are considered the global standard for benchmarks in the financial sector.
“Alignment with all of IOSCO’s nineteen Principles is a major milestone for AMERIBOR,” said AFX Chairman and CEO Richard Sandor. “It will enable a broader range of American banks and financial institutions to use AMERIBOR as the reference interest rate benchmark for commercial loans, bonds and interest rate derivatives such as futures, options and swaps. Adherence to all nineteen Principles of IOSCO further positions AMERIBOR as an IOSCO-aligned benchmark interest rate.”
