Regulatory Alerts2021-10-12 | 146/04Rules for the Calculation and Publication of the Indices of the Tbilisi Interbank Interest Rate (TIBR)
The National Bank of Georgia issues these rules to define the methodology for calculating and publishing the Tbilisi Interbank Interest Rate indices, including the TIBR Rate, Term Rate, and Compounding Index. The document mandates that eligible unsecured overnight GEL transactions be used to compute the primary rate via a volume-weighted average of the central 80% of data, while establishing specific contingency plans for low-liquidity scenarios. It further requires daily publication of final indices by 10 a.m. and mandates annual internal audits to ensure the methodology aligns with current market practices.
Share