{"id":43604,"date":"2025-09-08T03:09:44","date_gmt":"2025-09-08T07:09:44","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-indices-selected-to-calculate-jibar-fallback-rates-as-south-africa-transitions-to-zaronia\/"},"modified":"2025-09-08T03:15:25","modified_gmt":"2025-09-08T07:15:25","slug":"bloomberg-indices-selected-to-calculate-jibar-fallback-rates-as-south-africa-transitions-to-zaronia","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-indices-selected-to-calculate-jibar-fallback-rates-as-south-africa-transitions-to-zaronia\/","title":{"rendered":"Bloomberg Indices Selected to Calculate JIBAR Fallback Rates as South Africa Transitions to ZARONIA"},"content":{"rendered":"
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Johannesburg, South Africa \u2013 Bloomberg Index Services Limited (Bloomberg Indices) has been selected to calculate and publish the official fallback rates for the Johannesburg Interbank Average Rate (JIBAR), as South Africa prepares to transition to the South African Rand Overnight Index Average (ZARONIA). The South African Reserve Bank (SARB) confirmed the selection as part of its roadmap to phase out JIBAR by December 2026.<\/p>\n

As the official calculation agent, Bloomberg Indices will publish three key rates daily: the compounded ZARONIA, a credit adjustment spread, and an all-in fallback rate that combines the two. These fallback rates will apply to legacy contracts that currently reference JIBAR, ensuring consistency and fairness during the transition. The SARB\u2019s approach aligns with international practices for benchmark reform and is designed to minimise disruption to South Africa\u2019s financial markets.<\/p>\n

Bloomberg\u2019s role in the JIBAR transition builds on its track record supporting global benchmark reforms. The company was previously selected by the International Swaps and Derivatives Association (ISDA) to calculate fallback rates for LIBOR and other interbank offered rates (IBORs) globally.<\/p>\n

Ajay Bhowan, Head of Treasury Execution Services and Bank Treasurer at Absa Group<\/strong>, said \u201cThe South African interest rate derivative market is one of the most liquid within the Emerging Market space. Bloomberg\u2019s publication of the fallback rates lays a strong foundation for transitioning of derivative contracts from JIBAR to ZARONIA, thereby preserving the integrity and liquidity of the South African interest rate derivative market.\u201d<\/p>\n

\u201cAs South Africa moves toward adopting more transparent, transaction-based reference rates, Bloomberg Indices is proud to support this market evolution,\u201d said Umesh Gajria, Global Head of Index Linked Products at Bloomberg<\/strong>. \u201cOur infrastructure, governance and experience in global rate transitions position us to deliver trusted fallback calculations that meet the highest standards of data integrity.\u201d<\/p>\n

About Bloomberg Index Services Limited<\/strong>
\nBloomberg\u2019s index team has a proven track record in creating industry-leading and bespoke indices across asset classes, including their flagship fixed income, commodity and equity indices. Bloomberg Index Services Limited (BISL) takes an innovative approach to delivering strategic benchmarks that help market participants address their evolving investment needs. The indices, which are seamlessly integrated with other Bloomberg solutions, draw on a comprehensive range of trusted data and reliable technology for calculations, analytics and workflow automation, along with distribution capabilities that can help amplify the visibility of our customers\u2019 products.<\/p>\n

About Bloomberg<\/strong>
\nBloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com\/company or request a demo<\/a>.<\/p>\n

Media Contacts<\/strong>
\nBloomberg, MEA
\nMona Saleh msaleh39@bloomberg.com<\/a><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"Johannesburg, South Africa \u2013 Bloomberg Index Services Limited (Bloomberg Indices) has been selected to calculate and publish the official fallback rates for the Johannesburg Interbank Average Rate (JIBAR), as South Africa prepares to transition to the South African Rand Overnight Index Average (ZARONIA). The South African Reserve Bank (SARB) confirmed the selection as part of [...]","protected":false},"featured_media":43606,"template":"","format":"standard","categories":[86,17],"press_tag":[268,79],"class_list":["post-43604","press","type-press","status-publish","format-standard","has-post-thumbnail","hentry","category-bloomberg-professional-services","category-press-announcement","press_tag-bloomberg-indices","press_tag-press-announcements"],"yoast_head":"\nBloomberg Indices Selected to Calculate JIBAR Fallback Rates as South Africa Transitions to ZARONIA | Press | Bloomberg LP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-indices-selected-to-calculate-jibar-fallback-rates-as-south-africa-transitions-to-zaronia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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