These changes have been made in line with the definition of BBA LIBOR, and  contributor panel banks are selected by the BBAs FX and Money Markets Advisory, 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.

The changes will be effective on Monday 9th February 2009

The full scheduled review of all panels will take place as usual in quarter two of 2009.
         
Australian Dollar (AUD): 8 Banks
JP Morgan replaces HBOS on the AUD contributor panel.  The panel banks will therefore be:

Barclays Bank plc
Commonwealth Bank of Australia
Deutsche Bank AG
JP Morgan
Lloyds Banking Group
National Australia Bank Ltd
The Royal Bank of Scotland Group
UBS AG

Canadian Dollar (CAD): 12 Banks
UBS replaces HBOS on the CAD contributor panel.  The panel banks will therefore be:

Bank of Montreal
Barclays Bank plc
Canadian Imperial Bank of Commerce
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
National Bank of Canada
Rabobank
Royal Bank of Canada
The Royal Bank of Scotland Group
UBS AG

Swiss Franc (CHF): 12 Banks
Bank of Tokyo-Mitsubishi UFJ Ltd
Barclays Bank plc
Citibank NA
Credit Suisse
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
Société Générale
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 Banking Group
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
Mizuho Corporate Bank replaces HBOS on the EUR contributor panel.  The panel banks will therefore be:

Bank of America
Bank of Tokyo-Mitsubishi UFJ Ltd
Barclays Bank plc
Citibank NA
Credit Suisse
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
Mizuho Corporate Bank
Rabobank
Royal Bank of Canada
Société Générale
The Royal Bank of Scotland Group
UBS AG
West LB AG

Sterling (GBP): 16 Banks
Mizuho Corporate Bank replaces HBOS on the GBP contributor panel.  The panel banks will therefore be:

Abbey National plc
Bank of America
Bank of Tokyo-Mitsubishi UFJ Ltd
BNP Paribas
Barclays Bank plc
Citibank NA
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
Mizuho Corporate Bank
Rabobank
Royal Bank of Canada
The Royal Bank of Scotland Group
UBS AG
West LB AG

Japanese Yen (JPY): 16 Banks
Bank of America
Bank of Tokyo-Mitsubishi UFJ Ltd
Barclays Bank plc
Citibank NA
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
Mizuho Corporate Bank
Rabobank
Société Générale
Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE)
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 Banking Group
National Australia Bank
The Royal Bank of Scotland Group
There has been no change in the composition of the NZD contributor panel.

Swedish Krona (SEK): 8 Banks
Barclays Bank
Deutsche Bank
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Rabobank
The Royal Bank of Scotland Group
UBS
There has been no change in the composition of the SEK contributor panel.

US Dollar (USD): 16 Banks
Société Générale replaces HBOS on the USD contributor panel.  The panel banks will therefore be:
Bank of America
Bank of Tokyo-Mitsubishi UFJ Ltd
Barclays Bank plc
Citibank NA
Credit Suisse
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds TSB Bank plc
Rabobank
Royal Bank of Canada
Société Générale
The Norinchukin Bank
The Royal Bank of Scotland Group
UBS AG
West LB AG

For further information, please contact:
BBA Press Office (020 7216 8989 )
Out of Hours (020 7216 8888 )

Notes to Editors:

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 independent Foreign Exchange and Money Markets Committee and the BBA is unable to comment on any individual Panel or bank.
The BBA is committed to reviewing the Panels at least twice annually.