WRR indicator could one day become common reference index in Poland - c. bank
The development of the domestic repo market could contribute to an increase in the transactivity of the WRR (Warsaw Repo Rate) indicator, which over time could become another commonly used reference index in the Polish market, Poland's central bank NBP assessed in its 2023 report on the Polish financial system.
"The development of the domestic market for the aforementioned (repo - PAP) operations could contribute to an increase in the transactivity of the WRR indicator, which over time could become another reference index commonly used in the Polish market," it was written.
The Warsaw Repo Rate (WRR) index did not enter the second round of the already completed consultation as part of the process of review and analysis of alternative indices to the RFR-type WIBOR.
However, Poland's Steering Committee of the National Working Group for the reference rate reform (KS NGR) communicated that work with an indicator based on the repo market should be carried out and ultimately, in the future, such an index could be used as an alternative to replace the WIBOR reference index.
Information on the selection of a reference index from the WIRF (Warsaw Financial Market Index) family of indicators to replace WIBOR is expected in December.
tus/ han/ nl/