Vice Chairman Doh Kyu-sang held the 35^th financial risk assessment meeting and 3^rd taskforce meeting on benchmark interest rate reform via teleconference on February 26. At the meeting, Vice Chairman Doh announced the authorities’ selection of the overnight repo rate of government bonds and monetary stabilization bonds as Korea’s new risk-free reference rate (RFR), which is expected to serve as an alternative and fallback rate for the certificate of deposit rate that is widely in use currently in international derivatives transactions.

* Please see press release for details.