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Interbank rates in the kingdom of Saudi Arabia

Saudi Arabian Interbank Offered Rate (SAIBOR)

Saudi Arabia Riyadh cityscape at night

We are the official administrator and calculator of SAIBOR – the benchmark rate for interbank lending in the Kingdom of Saudi Arabia and a reference for a range of financial transactions.

Why choose SAIBOR?

SAIBOR is the rate at which contributing banks would be able to borrow unsecured interbank funds in Saudi Riyals, were they to accept offers in reasonable market size from other banks in the SAIBOR panel at 11:00 am Riyadh time.

You can access the SAIBOR rates via Eikon, our data feeds, or from other information vendors.

SAIBOR is administered by RBSL.

Announcement

Refinitiv is the administrator of numerous indices and benchmarks.

Refinitiv assigned Refinitiv Benchmark Services (UK) Limited (‘RBSL’) to be the regulated administrator of certain benchmarks, such as those used within the EU and thus caught by the EU Benchmark Regulation (EU BMR). RBSL is authorized by the FCA, as listed on the ESMA Register, to administer benchmarks under the EU BMR.

The following benchmarks have been moved to be administered by RBSL since the end of December 2019. The migration has happened therefore it’s okay for users to use them prior to the benchmark statement being published in mid-January 2020. 

  • WM/Reuters Spot, Forward and NDF benchmark rates
  • Thomson Reuters/CoreCommodity CRB® Index
  • Refinitiv Convertible Indices

Going forward, we will continue to carry out our commitment to EU BMR.

Note: For those benchmarks administered by a non-EU entity within Refinitiv (i.e. a third country administrator), Refinitiv has until the end of the BMR Extension Transition period (Dec 2021) to migrate those benchmarks into an authorized benchmark administrator (i.e. RBSL).

Those Refinitiv benchmarks that fall under the BMR Extension Transition period and are under consideration for migration before the end of 2021 are:

  • Tokyo Swap Rates (administered by RAPL, Refinitiv Asia Pacific Limited)
  • Thomson Reuters Local Currency Indices
  • Thomson Reuters IX Global ESG Equal Weighted Index
  • Thomson Reuters IX Global ESG High Dividend Low Volatility Equal Weighted Index
  • Thomson Reuters IX Western Europe Small & Mid Cap Index
  • Thomson Reuters GL Large/Mid D&I Ex Controversial Weapons Equal Weight Index
  • Thomson Reuters Global Equal Opportunities Select Index
  • Thomson Reuters Global Resource Protection Select Index
  • Thomson Reuters Europe Equal Opportunities Select Index
  • Refinitiv Country, Regional and Sector Indices
  • Thomson Reuters Diversity & Inclusion Index
  • Thomson Reuters Eurozone ESG Select Index

Refinitiv will perform further assessments to the following Refinitiv benchmarks and notify the users in later stage whether Refinitiv will migrate them by Dec 2021:

  • Refinitiv VNIBOR USD Benchmark
  • Refinitiv VNIBOR VND Benchmark
  • Refinitiv VNDFX Spot and Forward Rates
  • Refinitiv VNDFX VND Reference Rate

Features & benefits

What you get with SAIBOR

Transparent rates

We ensure all financial benchmark methodologies are transparent and adhere to the IOSCO principles for financial benchmarks.

Multiple sources

The benchmark relies on data from a number of submitters to ensure accuracy.

SAIBOR on Eikon

The rate is on page <SUAA>. Additional information: <SAIBOR01>. Individual bank submissions: <SAIBOR02> to <SAIBOR07>.

How it works

SAIBOR in detail

Administered

Administered and calculated in alignment with the IOSCO Principles for Financial Benchmarks, SAIBOR comprises 6 maturities – overnight, 1-week, 1-month, 3-month, 6-month, and 1-year.

Methodology

The benchmark is calculated as the arithmetic average of submissions after the 2 highest and lowest rates have been discarded, and is published to 5 decimal places.

Published

It is published from Sunday to Thursday at 11:00 Saudi Arabia Time, subject to local market holidays, as advised by the Saudi Arabian Monetary Authority (“SAMA”).