Bank of England wants to implement the Sonia reforms by the end of 2017
The Bank of England has published a
consultation paper on its proposed changes to the Sonia
benchmark and pledged to implement the reforms before the end
of next year, marking the Old Lady’s latest step
to establish Sonia as an alternative to the much-maligned Libor
The Bank of England published on Monday
morning "The reform of Sonia: A Consultation Paper" that
proposes changes to the definition of Sonia, fixes the end of
this year as the deadline for feedback and outlines a timetable
for implementation next year.
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