At its latest meeting on February 5, the official working group on Swiss reference rates put forward a set of compounded methods for the industry to consider. The Swiss National Working Group on Reference Rates has proposed using backward-looking compounded rates based on SARON. In the United States, a similar proposal was made by the Federal Reserve Bank of New York in its December 2008 report to Congress.
The Swiss National Working Group on Reference Rates has proposed using backward-looking compounded rates based on SARON. In the United States, a similar proposal was made by the Federal Reserve Bank of New York in its December 2008 report to Congress.