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BBA LIBOR Panels 2005

3 Jan 2006

In accordance with the LIBOR Definition the British Bankers Association (BBA) has completed its review of the composition of the LIBOR Contributor Panels. These are the banks that contribute to the BBAs LIBOR rate-setting process

With effect from Monday, 04 July 2005, the composition of the Australian Dollar (AUD), Canadian Dollar (CAD), Swiss Franc (CHF), Danish Krone (DKK), Euro (EUR), Sterling (GBP), Japanese Yen (JPY), New Zealand Dollar (NZD) and US Dollar (USD) Panels will be as follows:

3 January 2006 - Update Société Générale replaced UFJ Bank on the Japanese yen panel.

AUSTRALIAN DOLLAR (AUD) - 8 BANKS

Commonwealth Bank of Australia
Deutsche Bank AG
HBOS 
JP Morgan Chase
Lloyds TSB Bank plc
National Australia Bank Ltd
The Royal Bank of Scotland Group
UBS AG

There has been no change in the composition of the AUD contributor panel.

CANADIAN DOLLAR (CAD) - 12 BANKS

Bank of Montreal
Bank of Nova Scotia
Barclays Bank plc
Canadian Imperial Bank of Commerce
Deutsche Bank AG
HSBC
HBOS
JP Morgan Chase
National Bank of Canada
Rabobank
Royal Bank of Canada
The Royal Bank of Scotland Group

Lloyds TSB is no longer a member of the CAD Contributor Panel and has been replaced by Barclays Bank plc.

SWISS FRANC (CHF) - 12 BANKS

Barclays Bank plc 
Citibank NA
Credit Suisse First Boston
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Société Générale
The Bank of Tokyo-Mitsubishi UFJ Ltd
The Royal Bank of Scotland Group
UBS AG
Westdeutsche Landesbank

There has been no change in the composition of the CHF contributor panel.

DANISH KRONE (DKK) - 8 BANKS

Barclays Bank plc
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Rabobank
The Royal Bank of Scotland Group
UBS AG

There has been no change in the composition of the DKK contributor panel.

EURO (EUR) - 16 BANKS

Bank of America 
Barclays Bank plc 
Citibank NA
Credit Suisse First Boston
Deutsche Bank AG 
HBOS
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Rabobank
Royal Bank of Canada 
Société Générale
The Bank of Tokyo-Mitsubishi UFJ Ltd
The Royal Bank of Scotland Group
UBS AG 
Westdeutsche Landesbank AG

There has been no change in the composition of the EUR contributor panel.

STERLING (GBP) - 16 BANKS

Abbey National plc
Bank of America 
BNP Paribas
Barclays Bank plc
Citibank NA
Deutsche Bank AG
HBOS
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Rabobank
Royal Bank of Canada
The Bank of Tokyo-Mitsubishi UFJ Ltd
The Royal Bank of Scotland Group
UBS AG
Westdeutsche Landesbank AG

Bayerische Landesbank is no longer a member of the GBP contributor panel and has been replaced by Citibank NA.

JAPANESE YEN (JPY) - 16 BANKS

Bank of America 
Barclays Bank plc
Citibank NA
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Mizuho Corporate Bank 
Rabobank
Société Générale
Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE)
The Bank of Tokyo-Mitsubishi Ltd
The Norinchukin Bank
The Royal Bank of Scotland Group
UBS AG
UFJ Bank Ltd
Westdeutsche Landesbank AG

UFJ Bank Ltd is no longer a member of the JPY contributor panel and has been replaced by Société Générale.

NEW ZEALAND DOLLAR (NZD) - 8 BANKS

Commonwealth Bank of Australia
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
National Australia Bank
Rabobank
The Royal Bank of Scotland Group

There has been no change in the composition of the NZD contributor panel.

US DOLLAR (USD) - 16 BANKS

Bank of America 
Barclays Bank plc
Citibank NA
Credit Suisse First Boston
Deutsche Bank AG
HBOS
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Rabobank
Royal Bank of Canada
The Bank of Tokyo-Mitsubishi UFJ Ltd
The Norinchukin Bank
The Royal Bank of Scotland Group
UBS AG
Westdeutsche Landesbank AG

Abbey National plc is no longer a member of the USD contributor panel and has been replaced by Royal Bank of Canada.

Individual Contributor Panel Banks are selected by the BBAs FX and Money Markets Advisory Panel after private nomination and discussions with the LIBOR Steering Group, on the basis of reputation, scale of activity in the London market and perceived expertise in the currency concerned, and giving due consideration to credit standing.

For further information, please contact:
John Ewan - BBA LIBOR Manager (020 7216 8856 john.ewan@bba.org.uk )
Alex Merriman - Director, Wholesale (020 7216 8901alex.merriman@bba.org.uk )
BBA Press Office (020 7216 8989 )

Notes to Editors

In accordance with the BBA LIBOR definition, the BBA has reviewed the composition of the Contributor Panels for Australian Dollars, Canadian Dollars, Danish Krone, Euros, Japanese Yen, New Zealand Dollar, Swiss Francs, Sterling, and US Dollars.

The BBA's FX and Money Markets Advisory Panel made the selections after private nomination and discussions with the BBA LIBOR Steering Group. The aim of the Advisory Panel is to ensure that the Contributor Panels broadly reflect the balance of activity in the inter-bank deposit market.

Decisions on individual banks were taken on the basis of scale of activity in the London market, perceived expertise in the currency concerned, reputation, and due consideration of credit standing. Current and potential panel members were asked to provide data confidentially to the BBA about their cash and short-term FX swap business in each currency in order to measure their scale of activity.

The decisions represent the composite judgement of the Advisory Panel and the BBA is unable to comment on any individual Panel or bank.

The BBA is committed to reviewing the Panels at least annually

 
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