The Polish Financial Supervision Commission (KNF) has designated the Polish Short Term Rate (POLSTR) and its family of compound indexes as significant benchmarks under Article 24(3) of the EU Benchmarks Regulation. The designation places POLSTR’s provision under the regulation’s requirements and KNF supervision as Poland advances its transition away from WIBID and WIBOR. KNF determined that POLSTR’s cessation could significantly harm Polish market integrity and financial markets, particularly given the absence of suitable market-led substitutes. POLSTR’s use exceeded EUR 18.5 billion as of Aug. 26, 2026. It is the main benchmark for new Polish floating-rate treasury bonds and is also used in development bank bonds and by investment funds, while central counterparties have begun clearing POLSTR-linked overnight index swaps. The benchmark’s administrator, GPW Benchmark, already holds the required authorization and will not need to reapply. The European Securities and Markets Authority supported the designation and will add POLSTR to its public benchmark register.
2026-08-28Polish Financial Supervision Commission (KNF)
Polish Financial Supervision Authority designates POLSTR as a significant benchmark
The Polish Financial Supervision Authority designated POLSTR and its family of compound indexes as a significant benchmark under the EU Benchmarks Regulation, placing them under continued regulatory requirements and supervision. POLSTR’s use in Poland exceeded EUR 18.5 billion as of Aug. 26, 2026, and it is expected to play a growing role in the reform of WIBOR and WIBID.