{"id":471929,"date":"2021-04-06T10:33:24","date_gmt":"2021-04-06T14:33:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=471929"},"modified":"2021-04-06T10:33:24","modified_gmt":"2021-04-06T14:33:24","slug":"bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/","title":{"rendered":"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">April 6, 2021<\/span> \/PRNewswire\/ &#8212; Bloomberg today announced that an independent assurance review of the Bloomberg Short-Term Bank Yield Index (BSBY) confirmed that the short-term credit sensitive index adheres to the International Organization of Securities Commissions&#8217; (IOSCO) Principles for Financial Benchmarks. The review was conducted by a global, independent accounting firm and the final report is expected to be available shortly. <\/p>\n<p>&#8220;Alignment with the IOSCO Principles is an important milestone, and recognizes BSBY adheres to industry best practices,&#8221; said <span class=\"xn-person\">Steve Berkley<\/span>, CEO of Bloomberg Index Services Limited (BISL) at Bloomberg. &#8220;An increasing number of financial institutions and corporations are looking to BSBY for their loan products as they transition away from LIBOR, and we will continue to support their needs as they work to ensure compliance with regulatory timelines.&#8221;<\/p>\n<p>Market participants are invited to <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3120055-1&amp;h=3290340118&amp;u=https%3A%2F%2Fwww.bloomberg.com%2Fprofessional%2Fblog%2Fwebinar%2Fintroducing-the-bloomberg-short-term-bank-yield-index-bsby-2%2F%257d&amp;a=register\" rel=\"nofollow noopener noreferrer\">register<\/a> for a virtual information session on BSBY on <span class=\"xn-chron\">April 8<\/span>. <\/p>\n<p>BSBY includes a term structure and systemic credit-sensitive spread, which may be used to support the market&#8217;s transition from IBOR benchmarks to risk-free rates. BSBY is available as a standalone rate, and can also be used to supplement Term SOFR. Bloomberg began publishing BSBY on an indicative basis in October 2020.\u00a0\u00a0\u00a0<\/p>\n<p>BSBY will be calculated daily and published at\u00a08 AM ET, using the prior day&#8217;s transaction data, on a T+1 basis.\u00a0 The index can be accessed via the Bloomberg Terminal, and will be posted publicly on Bloomberg.com on a delayed basis.\u00a0 The index is available for 5 tenors: overnight (BSBYON), 1-month (BSBY1M), 3-months (BSBY3M), 6-months (BSBY6M) and 12-months (BSBY12M).\u00a0 Additional detail on the BSBY methodology can be accessed\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3120055-1&amp;h=673343633&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3088521-1%26h%3D3984135105%26u%3Dhttps%253A%252F%252Fwww.bloomberg.com%252Fprofessional%252Fintroducing-the-bloomberg-short-term-bank-yield-index-bsby%26a%3Dhere&amp;a=here\" rel=\"nofollow noopener noreferrer\">here<\/a>. <\/p>\n<p>Bloomberg Index Services Limited (BISL), an authorized benchmark administrator and subsidiary of Bloomberg, is licensing BSBY for use as a financial benchmark. In addition to BSBY, BISL administers the Bloomberg Barclays flagship family of fixed income indices, the Bloomberg Commodity Index (BCOM), and Bloomberg&#8217;s Global Equity Index family. BISL provides robust governance and oversight over its benchmark offerings, which will soon include a dedicated oversight function for BSBY composed of a balanced set of market stakeholders. <\/p>\n<p>While initially offered in the U.S., BSBY will soon be available for licensing in additional jurisdictions, including the U.K. and the EU.\u00a0 <\/p>\n<p>\n        <b>About Bloomberg<\/b>\u00a0 <br \/>Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company&#8217;s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Terminal. Bloomberg&#8217;s enterprise solutions build on the company&#8217;s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3120055-1&amp;h=4152008657&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3088521-1%26h%3D40903830%26u%3Dhttps%253A%252F%252Fwww.bloomberg.com%252Fcompany%26a%3DBloomberg.com%252Fcompany&amp;a=Bloomberg.com%2Fcompany\" rel=\"nofollow noopener noreferrer\">Bloomberg.com\/company<\/a>\u00a0or\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3120055-1&amp;h=2749495345&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3088521-1%26h%3D3072866914%26u%3Dhttps%253A%252F%252Fwww.bloomberg.com%252Fprofessional%252Frequest-demo%252F%253Futm_source%253Dbbg-pr%2526bbgsum%253Ddg-ws-core-pr%26a%3Drequest%2Ba%2Bdemo&amp;a=request+a+demo\" rel=\"nofollow noopener noreferrer\">request a demo<\/a>.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33441&amp;sd=2021-04-06\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles-301263169.html\">http:\/\/www.prnewswire.com\/news-releases\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles-301263169.html<\/a><\/p>\n<p>SOURCE  Bloomberg<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY33441&amp;Transmission_Id=202104061030PR_NEWS_USPR_____NY33441&amp;DateId=20210406\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, April 6, 2021 \/PRNewswire\/ &#8212; Bloomberg today announced that an independent assurance review of the Bloomberg Short-Term Bank Yield Index (BSBY) confirmed that the short-term credit sensitive index adheres to the International Organization of Securities Commissions&#8217; (IOSCO) Principles for Financial Benchmarks. The review was conducted by a global, independent accounting firm and the final report is expected to be available shortly. &#8220;Alignment with the IOSCO Principles is an important milestone, and recognizes BSBY adheres to industry best practices,&#8221; said Steve Berkley, CEO of Bloomberg Index Services Limited (BISL) at Bloomberg. &#8220;An increasing number of financial institutions and corporations are looking to BSBY for their loan products as they transition away from LIBOR, and we will continue &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-471929","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, April 6, 2021 \/PRNewswire\/ &#8212; Bloomberg today announced that an independent assurance review of the Bloomberg Short-Term Bank Yield Index (BSBY) confirmed that the short-term credit sensitive index adheres to the International Organization of Securities Commissions&#8217; (IOSCO) Principles for Financial Benchmarks. The review was conducted by a global, independent accounting firm and the final report is expected to be available shortly. &#8220;Alignment with the IOSCO Principles is an important milestone, and recognizes BSBY adheres to industry best practices,&#8221; said Steve Berkley, CEO of Bloomberg Index Services Limited (BISL) at Bloomberg. &#8220;An increasing number of financial institutions and corporations are looking to BSBY for their loan products as they transition away from LIBOR, and we will continue &hellip; Continue reading &quot;Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T14:33:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33441&amp;sd=2021-04-06\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles\",\"datePublished\":\"2021-04-06T14:33:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\\\/\"},\"wordCount\":485,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY33441&amp;sd=2021-04-06\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\\\/\",\"name\":\"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles - 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The review was conducted by a global, independent accounting firm and the final report is expected to be available shortly. &#8220;Alignment with the IOSCO Principles is an important milestone, and recognizes BSBY adheres to industry best practices,&#8221; said Steve Berkley, CEO of Bloomberg Index Services Limited (BISL) at Bloomberg. &#8220;An increasing number of financial institutions and corporations are looking to BSBY for their loan products as they transition away from LIBOR, and we will continue &hellip; Continue reading \"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-06T14:33:24+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33441&amp;sd=2021-04-06","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles","datePublished":"2021-04-06T14:33:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/"},"wordCount":485,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33441&amp;sd=2021-04-06","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bloomberg-confirms-its-bsby-short-term-credit-sensitive-index-adheres-to-iosco-principles\/","name":"Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles - 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