March 31, 2022
Financial Services Agency
Summary of Results of the Third Survey
on the Use of LIBOR
Key Results of the Survey on the Use of LIBOR (JFSA and Bank of Japan) - March 31, 2022
The JFSA, together with the Bank of Japan, conducted a joint survey of financial institutions, including banks, securities companies and insurance companies, regarding their use of LIBOR. The reference date of this survey is end-2021.
Financial institutions will be required to take actions for the transition away from panel-based LIBOR for which the publication was ceased at the end of December 2021, synthetic LIBOR, and USD LIBOR for which the publication will be ceased at the end of June 2023. Based on the results of this survey, the JFSA will continue to monitor the progress in the transition, and require financial institutions to take necessary actions in light of the situation.
Note: The figures for "Amounts outstanding of contracts referencing USD LIBOR (overnight, 1-, 3-, 6-, and 12-month)" in the Summary of Results of the Third Survey on the Use of LIBOR were partially revised in the course of the Fourth Survey on the Use of LIBOR. For the latest figures, please refer to the "Summary of Results of the Fourth Survey on the Use of LIBOR".
Banking Business Division Ⅰ , Supervision Bureau , Financial Services Agency
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