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Working Group issues recommendations on conventions to support use of SONIA

Published on: 02 September 2020
Published by LNB News

LNB News 02/09/2020

Document Information

Issue Date: 02 September 2020

Published Date: 02 September 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Working Group for Sterling Risk Free Rates has issued recommendations on conventions to support the use of SONIA in loan markets for Sterling Bilateral and Syndicated Facilities, including Multicurrency Syndicated Facilities where there is a sterling currency option. The Working Group provides recommendations in order to assist market participants who have been awaiting direction on the preferred methodology prior to commencing implementation and developing their standard product offerings.

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