BOJ Calls for Faster Progress on Libor as Expiry Nears

The video discusses the transition to alternative benchmarks, focusing on the progress and challenges in implementing fall back provisions for financial products. It highlights the significant progress made in derivatives, with most institutions complying with international standards. However, spot products lag behind, with only a small percentage covered by fall back provisions. The transition process for yen Libor is also examined, noting efforts to accelerate the adoption of alternative benchmarks like the Tokyo term risk free rate. The video emphasizes the urgency of completing the transition for new transactions.

What efforts have been made to speed up the transition process for yen Libor?

What recommendations did the Libor Review Committee make for yen interest rate swap markets?