Working Group updates (2019 onwards)
SONIA task forces
On 7 February, the Working Group agreed to set up three priority task forces on SONIA to look at term rates, accounting treatment and regulatory dependencies.
We are seeking people to support these task forces by providing expert advice, participating on a pro bono basis. If your firm has an interest in the transition to SONIA, we invite you to express your interest. This includes professional service firms. In particular, accountancy firms, law firms and financial consultancies. Individuals and firms should not use their participation or contribution for marketing purposes.
If you would like more information, or to express your interest, please contact RFR.Secretariat@bankofengland.co.uk.
Infrastructure Forum – 31 January 2019
The Infrastructure Forum enabled the RFRWG to engage with infrastructure and systems providers on key impacted markets and to better understand any outstanding issues - and potential solutions - for infrastructure to support the development of SONIA and other RFR linked products.
Infrastructure firms play a key role in supporting a successful transition to RFR and helping to reduce the financial stability risks arising from the widespread reliance of financial markets on LIBOR. The RFRWG (supported by the Bank of England and the Financial Conduct Authority) are grateful for the engagement received to date in this market-led transition effort.
Slides of the presentation and a summary note of the forum is available to download in the documents section below. If there are specific topics or questions that you would like to share with us, please contact the RFR Secretariat on the following email address: RFR.Secretariat@bankofengland.co.uk