Telbor and Fallback

On October 27, 2022, it was decided that the spread to be calculated for the SHIR interest rate as needed for the Fallback Rate (which serves to transition existing Telbor transactions to SHIR interest rate transactions), will be based on the methodology implemented by ISDA for other IBOR interest rates. In this methodology, the spread is the median, over a period of 5-years, of the gaps between the Telbor and SHIR-Compounded in Arrears.

On April 16, 2024, it was decided that the publication of all tenors of TELBOR will permanently cease immediately following a final publication on June 30, 2025.

This announcement constitutes an "Index Cessation Event" under the 2021 ISDA Interest Rate Derivatives Definitions and the November 2022 Benchmark Module of the ISDA 2021 Fallbacks Protocol.

For further information, please refer to the ISDA Statement  and Bloomberg's Technical Note, relating to the TELBOR cessation announcement