IHS Markit officially launches CRITR and CRITS benchmarks

Industry players are now able to use IHS Markit credentials in the creation of non-retail financial products

IHS Markit, a global leader in information, analytics and mission-critical solutions, today announced its series of dynamic forward-looking benchmarks that measure the daily cost of funding in US dollars (USD) in the markets. institutional and can now be used to create retail financial products. These benchmarks include the IHS Markit USD Credit Inclusive Term Rate (CRITR) and the IHS Markit USD Credit Inclusive Term Spread (CRITS), which are designed to provide banking institutions with a broad measure of USD funding costs on a senior basis. not guaranteed.

The publication of the CRITR and CRITS benchmarks started on June 1, 2021, including 5 years of historical data. IHS Markit now allows industry players to use these benchmarks in the creation of non-retail financial products. Fares will continue to be updated daily at 8 a.m. ET in accordance with SIFMA’s holiday schedule. Benchmarks are available in the following durations: overnight, 1 month, 3 months, 6 months and 12 months.

CRITR and CRITS are the first credit-sensitive benchmarks based on broad component bases – they track most institutional USD certificates of deposit, commercial paper and short-term corporate bond transactions using a robust and publicly available compliance methodology and framework. The methodology was developed and refined by working closely with market and industry players. The CRITS benchmark does not prevent the adoption of the rate recommended by the ARRC (Alternative Reference Rates Committee) and addresses the concerns of market participants who want to use SOFR but need a credit sensitive component .

“The market needs a simple and robust solution for companies transitioning their exposure ahead of the USD LIBOR publication shutdown on June 30, 2023,” said Julien Rey, Executive Director and Head of LIBOR Transition Program, IHS Markit. “The IHS Markit USD CRITR and CRITS benchmark indices, created through an extensive development process, offer a series of dynamic rates that measure the cost of funding in US dollars in institutional markets, allowing institutions to create non indexed to a rate or spread adjustment in accordance with the UK Benchmark Regulation and the IOSCO Principles for Financial Benchmarks.”

The benchmarks are administered by IHS Markit Benchmark Administration Ltd. (IMBA UK) in accordance with UK Benchmarks Regulations and IOSCO Principles for Financial Benchmarks.

For more information on IHS Markit’s IBOR bridging offerings, click here.



Posted on February 02, 2022 by Julien ReyExecutive Director, Financial Services, Head of LIBOR Transition Program, IHS Markit

IHS Markit provides industry-leading data, software and technology platforms and managed services to meet some of the toughest challenges in financial markets. We help our clients better understand complex markets, reduce risk, operate more efficiently and comply with financial regulations.


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