DFBF Response to Coronavirus COVID-19
The current pandemic of the COVID-19 virus has prompted many businesses to implement measures to protect the well being of their employees, the broader community and the continuation of business services. In this context the DFBF has implemented measures to secure the uninterrupted calculation and publication of the benchmarks it administers, namely CIBOR, TomNext, CITA and SWAP.
A business continuity plan has been activated which has a provision, under societal disruption events, for its employees to perform their duties via telecommuting. To facilitate this arrangement back-up systems and procedures have been tested and a virtual office environment established.
Under the DFBF Policy, Panel Banks are required to have in place business continuity plans to maintain their obligations as a contributor of input data. Contributing banks have been contacted and have confirmed that their own contingency plans consider their continued adherence to the Code of Conduct.
The Board and management team will continue to monitor the pandemic situation closely as it develops. Any decisions made will of course be done so with the best interests of the users of the benchmarks, to ensure the integrity of the benchmarks and with full transparency to all stakeholders.
Any further updates to arrangements will be published on the website.