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The Financial Services Agency (FSA), together with the Bank of Japan (BOJ), conducted a joint survey of financial institutions, including banks, securities companies and insurance companies, regarding their use of LIBOR. The reference date of this survey is end-June 2023.
Through the past five surveys on the use of LIBOR, including this survey, it has been confirmed that the transition away from LIBOR is almost completed. Based on the results of this survey, considering that some financial institutions have existing contracts for which transition plans are not decided, as well as contracts referencing synthetic USD LIBOR for which the publication will be ceased at end-September 2024, the FSA and the BOJ will continue to monitor and require financial institutions to take necessary actions in light of the situation.
Key Results of the Survey on the Use of LIBOR (FSA and BOJ) - September 29, 2023
