This content is from: Local Insights

Thailand

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 interbank market.

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 year.

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 market.

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 methodology.

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 P13705).

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