The WMBA will continue to calculate and publish Sonia but on behalf of the Bank
The Bank of England has said Wednesday
that it will take over the administration of the Sterling
Overnight Index Average (Sonia) interest rate benchmark on
April 25, and has committed to expand the scope of the rate,
following months of consultation to find an alternative to the
The central bank is taking over the
administrator role from the Wholesale Markets
Brokers’ Association (WMBA), after it informed the
market of its intention in July last year, and closed a consultation on the proposal in
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