The Global Reference Rates Reform and Its Impact on The Bulgarian Banking Industry

Darina Koleva ()
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Darina Koleva: Department of Finance, University of National and World Economy, Sofia, Bulgaria

Finance, Accounting and Business Analysis, 2019, vol. 1, issue 2, 117-125

Abstract: This paper analyses the problems that market users face after the global scale reform of reference rates. The plan to replace the LIBOR with new deeply market-rooted reference rates urge both private and public sectors to unite efforts in finding sustainable and long-term decisions promoting financial stability. Some of the previously existing rates are substantially revised, others – phased out, and a third group – that of the nearly risk-free rates is in a stage of development and testing. It is too soon to measure the impact of those reforms adequately. However, a detailed discussion of the basic features of the reference rates helps to make some preliminary conclusions in the case of Bulgaria.

Keywords: Reference rates; Inter-bank offered rates; Loan markets; Banking (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aan:journl:v:1:y:2019:i:2:p:117-125

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