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BBA LIBOR panels 2006

13 Nov 2006

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

With effect from Monday, 26 June 2006, 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), Swedish Krona (SEK) and US Dollar (USD) Panels will be as follows:

AUSTRALIAN DOLLAR (AUD) – 8 BANKS

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

JP Morgan Chase is no longer a member of the AUD Contributor Panel and has been replaced by Barclays Bank plc.

CANADIAN DOLLAR (CAD) – 12 BANKS

Bank of Montreal 
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 Bank of Nova Scotia 
The Royal Bank of Scotland Group

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

SWISS FRANC (CHF) – 12 BANKS

Barclays Bank plc
Citibank NA
Credit Suisse
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds TSB Bank plc 
Société Générale
The Bank of Tokyo-Mitsubishi, Ltd
The Royal Bank of Scotland Group
UBS AG
West LB AG

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
Deutsche Bank AG 
HBOS
HSBC
JP Morgan Chase
Lloyds TSB Bank plc 
Rabobank
Royal Bank of Canada 
Société Générale
The Bank of Tokyo-Mitsubishi Ltd
The Royal Bank of Scotland Group
UBS AG 
West LB 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 Ltd
The Royal Bank of Scotland Group
UBS AG
West LB AG

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

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
West LB AG

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

NEW ZEALAND DOLLAR (NZD) – 8 BANKS

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

Rabobank is no longer a member of the NZD Contributor Panel and has been replaced by Barclays Bank plc.

SWEDISH KRONA (SEK) – 8 BANKS

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

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

US DOLLAR (USD) – 16 BANKS

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

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

Individual Contributor Panel Banks are selected by the BBAs FX and Money Markets Advisory Panel after private nomination and discussions with the BBA 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 )
Alex Merriman Director, Wholesale (020 7216 8901 )
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, Swedish Krona 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.

Information about BBA LIBOR is available on this BBA website

 
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