BSBY index to cease

On November 15, 2023, BISL announced the permanent cessation of the BSBY index and all tenors, available here. Please note that the final publication of the BSBY index and all tenors will take place on Friday, November 15, 2024 (the “Cessation Date”). The cessation will take effect immediately following the publication of the rate for each BSBY tenor.

ProductsIndicesBloomberg Short-Term Bank Yield Index

Bloomberg Short-Term Bank Yield Index

A dynamic credit sensitive rate with a forward term structure

With the market’s transition to the secured overnight financing rate, SOFR, banks have expressed a need for a credit sensitive supplement to help manage the spread between their funding costs and the interest earned on loans. BSBY is a proprietary index calculated daily and published at 7:00 am (ET) on each U.S. business day to help banks do just that.

BSBY provides a series of credit sensitive reference rates that incorporate bank credit spreads and defines a forward term structure. BSBY also seeks to measure the average yields at which large global banks access USD senior unsecured marginal wholesale funding.


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