Annual report on SWESTR
As administrator of the transaction-based reference rate SWESTR, the Riksbank is responsible for monitoring, evaluating and ensuring that SWESTR complies with international principles. Once a year, the Riksbank publishes a report on SWESTR in order to be transparent about how the reference rate is calculated and what the underlying transaction dataset looks like.
The report is divided into three parts.
The first part examines whether SWESTR is reliable in relation to the development of the Riksbank’s policy rate and in relation to market rates. It also illustrates and comments on the transaction dataset and its representativeness.
The second part highlights the development of the underlying data for SWESTR. For example, it takes into account differences in the interest rates faced by different sectors and whether the current transaction dataset captures the entire relevant overnight market for unsecured loans.
The third part evaluates the criteria set to maintain a robust SWESTR at the time of calculation. The criteria are trimming levels and robustness criteria.
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