Commission Implementing Regulation (EU) 2021/1847 of 14 October 2021 on the designation of…

as it stood on 2026-08-07, permalink: /eu-eurlex/32021r1847/2026-08-07

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Outline, 2 provisions

art_1 art_2

art_1 #art_1

Article 1

The following rates are designated as the replacement rates for the CHF LIBOR in references to CHF LIBOR in any contract, and in any financial instrument as defined in Directive 2014/65/EU:

(a)	1-month CHF LIBOR is replaced by 1-month SARON compound Rate, as observed over the 1-month period preceding the interest period;

(b)	3-month CHF LIBOR is replaced by 3-month SARON Compound Rate, as observed over the 3-month period preceding the interest period;

(c)	6-month CHF LIBOR is replaced by 3-month SARON Compound Rate, as observed over the 3-month period preceding the interest period;

(d)	12-month CHF LIBOR is replaced by 3-month SARON Compound Rate, as observed over the 3-month period preceding the interest period.

A fixed spread adjustment shall be added to the replacement rates designated pursuant to paragraph 1. That fixed spread adjustment shall be equivalent to the spread published for each relevant tenor and calculated on 5 March 2021 as a historical median spread between the CHF LIBOR concerned and the respective SARON compound over a five-year lookback period for each particular term.
The replacement rates for CHF LIBOR shall be designated in accordance with the following table:

LIBOR	TENOR	Replacement Rate	Spread Adjustment Value (%)
CHF	1M	SARON 1 month Compound Rate (SAR1MC)ISIN CH0477123886	-0,0571
CHF	3M	SARON 3 month Compound Rate (SAR3MC)ISIN CH0477123902	0,0031
CHF	6M	SARON 3 month Compound Rate (SAR3MC)ISIN CH0477123902	0,0741
CHF	12M	SARON 3 month Compound Rate (SAR3MC)ISIN CH0477123902	0,2048

art_2 #art_2

Article 2

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall apply as of 1 January 2022.

Provenance and validity dates, identifier, hash

as of	2026-08-07 → this publisher state was selected
publisher state	publisher version 2021-10-14 → latest held publisher-asserted
type	REG_IMPL Commission Implementing Regulation (EU) 2021/1847 of 14 October 2021 on the designation of a statutory replacement for certain settings of CHF LIBOR (Text with EEA relevance)
language	en
published	2021-10-14
lex_id	eu-eurlex:32021r1847:2021-10-14
record sha256	4ea3bbe138e3ac72cadf203e98e3096cd2fb64f6388c4e44ba49801f9e4d463f

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