The Czech Financial Benchmark Facility (CFBF) is an independent benchmark administrator established to oversee the provision and governance of financial, and other, benchmarks and indices in the Czech Republic.

It is set up to provide a best practice governance environment for the production of benchmarks, under new international guidelines and regulations. The PRIBOR benchmark – Prague Interbank Offered Rate – is the first benchmark to be administered by the CFBF, taking on the responsibility as of the 24th July, 2017.

Under Regulation (EU) 2016/1011 (BMR) Article 51 Transitional Provisions, benchmarks that were operating as of 1st June 2016 (such as PRIBOR) have until 1st January 2020, to apply for authorization or registration. The CFBF as administrator of PRIBOR is currently preparing an application for authorisation. The application will be lodged during 2018 with the Czech National Bank as the competent authority responsible for providing authorization and registration of benchmarks under BMR within the Czech Republic.

The CFBF is committed to operating the PRIBOR benchmark in accordance with BMR and has in place governance structures, policies and procedures that are consistent with the IOSCO Principles for Financial Benchmarks (July 2013) and BMR. PRIBOR will continue to be produced under these frameworks during the transition period pending authorization.