Interbank rates in the kingdom of Saudi Arabia
Saudi Arabian Interbank Offered Rate (SAIBOR)
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.
Notice of ESMA Benchmark Administrator Register change due to expiration of Brexit transition period
Since authorisation in 2018, RBSL has been listed on the ESMA Register for benchmark administrators. Following ESMA's public statement on 1 October 2020, at the end of the Brexit transition period (currently 31 December 2020), UK benchmark administrators (including RBSL) will be removed from the ESMA register and will become third country administrators under the EU Benchmark Regulation (‘EU BMR’).
However, EU BMR provided a third-country transition period during which third country administrators (including RBSL) can continue providing benchmarks (including all RBSL benchmarks) for use by EU supervised entities. The transition period is until 31 December 2021 and is currently being extended until 31 December 2023. Third country administrators will have until the end of this transition period to gain permission under EU BMR using one of three pathways, specifically the UK BMR is granted ‘equivalence’, RBSL is granted ‘recognition’ as administrator, or RBSL’s benchmarks are granted ‘endorsement’.
The transition period will enable RBSL to execute its Brexit strategy and ensure regulatory permission is gained under EU BMR before the end of the period.
This does not affect RBSL’s authorisation with the UK FCA as a UK benchmark administrator, and RBSL will continue to appear on the UK FCA Register. Following the FCA's public statement on 1 December 2020, at the end for the Brexit transition period (currently 31 December 2020), UK benchmark administrators (including RBSL) will be listed on the FCA’s new UK Benchmarks Register.
Features & benefits
What you get with SAIBOR
We ensure all financial benchmark methodologies are transparent and adhere to the IOSCO principles for financial benchmarks.
The benchmark relies on data from a number of submitters to ensure accuracy.
The rate is on page <SUAA>. Additional information: <SAIBOR01>. Individual bank submissions: <SAIBOR02> to <SAIBOR07>.
How it works
SAIBOR in detail
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.
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.
It is published from Sunday to Thursday at 12:00pm KSA (Saudi Arabia) time, subject to local market holidays, as advised by the Saudi Arabian Monetary Authority (“SAMA”). (Prior to 2nd January 2022, SAIBOR was published at 11:00am KSA time.)
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Relevant to SAIBOR
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