The National Working Group for benchmark reform (NWG) was appointed in connection with the planned reform of benchmarks in Poland, involving, among others, the introduction of a new interest rate benchmark, with input data being information representing overnight (ON) transactions. The NWG aims to ensure the credibility, transparency and reliability of the process of determining and applying the new interest rate benchmark.
The group’s activities involve participation of representatives of the Ministry of Finance, the National Bank of Poland, the Polish Financial Supervision Authority, the Bank Guarantee Fund, the Polish Development Fund Group, the Warsaw Stock Exchange, the National Depository for Securities, Bank Gospodarstwa Krajowego, GPW Benchmark, leading commercial banks, banks affiliating cooperative banks, investment fund management companies, insurance undertakings, and professional associations of financial market entities.
The NWG’s activities are monitored and coordinated by the Steering Committee composed of:
Information from the work of the National Working Group