Last updated: 30 March 2021
Shawbrook uses a reference rate for determining the interest rate on certain of our products. For some of these products, we use “Term SONIA” (also known as “Term SONIA Reference Rate” or “TSRR”). There are a number of approved providers of the Term SONIA Reference Rate, and the current provider we have chosen is set out below.
The Reference Rate Administrator we are currently using to provide Term SONIA is ICE Benchmark Administration Limited.
For further information regarding Term SONIA and ICE Benchmark Administration Limited, please refer to the following sources:
Bank of England – Term SONIA Reference Rate Summary