ACTSA KZN Breakfast Presentation: JIBAR Transitions to ZARONIA – What the reference rate reform means for you and your business

The Association of Corporate Treasurers of Southern Africa in association with Standard Bank Ltd. is coming to KwaZulu Natal and invites you and your colleagues to an insightful presentation and dialogue that will empower the attendees on:

• The importance of reference rates in Financial Markets, how and why they are being reformed.
• Why ZARONIA has been selected as a replacement for JIBAR, how and when the market will transition to the new rate
• Insights into products that will use ZARONIA in derivative, cash, bond and loans markets

As the global financial markets practice of moving towards risk-free rates as an alternative to interbank offer rates, the South African Reserve Bank is on a journey to transition into such reference rates, which are at the core of many financial contracts and are being utilized to measure the performance of financial activities.

In South Africa, the Johannesburg Interbank Average Rate (JIBAR) has and is being used as a reference rate that underpins a significant number of these financial contracts and valuations. With this transition, contracts linked to JIBAR, will be replaced by a ZARONIA rate.