The Bank of Thailand (BoT) is publishing a reference rate
for short-term interest rates, called the Bangkok Interbank
Offered Rate (Bibor). Bibor is the rate of interest at which
banks can borrow funds from other banks in the Bangkok
Bibor is calculated from the average of rates at which
commercial banks offer to lend funds to other banks on an
unsecured basis. Tenors quoted range from one week to one
BoT is publishing Bibor so that banks and companies can have
a benchmark rate for short-term fundings, similar to Libor.
Bibor is intended to promote longer-term lendings in addition
to the overnight and on-call loans that are prevalent in the
Bibor is quoted from the contributor panel composed of seven
representatives of the Thai Bankers' Association and the
Foreign Banks' Association. To ensure transparency, all
individual quotes are available on screen, together with the
average rate and its standard fixing process and calculation
Bibor is published each business day on the BoT's website by
11:15am Bangkok time.
The initial contributor panel members are: BBL, KTB, BAY,
KBank, Citibank, TMB, SCB, SCIB, Bank of Nova Scotia, Mizuho,
Standard Chartered, BT-M, ABN AMRO and HSBC.
Bibor rates are published on the
Bank of Thailand website (English version), Bloomberg (MMR
TH, BTHA), Reuters (BOT101, BOT103), and Telerate (P13702 to