RECOMMENDED MARKET CONVENTIONS FOR NOWA AND FALLBACK SOLUTIONS IN THE EVENT OF A CESSATION OF NIBOR

When the focus ceases to be comprehensive health care to the whole population living within an area and becomes instead risk allocation to individuals, members, enrollees or

Norges Bank is the administrator for Nowa (Norwegian Overnight Weighted Average) with responsibility for calculating and publishing Nowa. As administrator, Norges Bank is also

The averages are published at the same time as the Nowa rate on the last observation date and two business days before the last day of the period to which the averages apply..

At the end of September 2019, the working group for alternative reference rates (ARR) published its report, which recommended a reformed version of Nowa as an alternative

The report(s) will contain recommendations for both fallback solutions for all types of contracts with Nibor as the reference rate and market conventions for financial products

The working group recommends interest payment with NOWA as a reference rate calculated with actual days in the interest period divided by 365 as the day count convention.. -

The working group recommends interest payment with NOWA as a reference rate calculated with actual days in the interest period divided by 365 as the day count convention.. 

The sub-group has, in line with the mandate given, published a public report with recommendations for fallback solutions for contracts with Nibor as the benchmark and