Thank you very much for your attention.
11  LIBOR Transition in the Final Stage: There will be No Deus ex Machina Speech at the NIKKEI Financial Online Seminar Held by Nikkei  June 8, 2021 AMAMIYA Masayoshi Deputy Governor of the Bank of Japan  Chart 1  Initiatives for the LIBOR transition in Japan 1st stage (2012-)   Both yen LIBOR and TIBOR (calculated based on interbank rates in the Tokyo market) became subject to the enhancement of robustness as benchmarks   The uncollateralized overnight call rate was identified as the yen risk-free rate in Japan  2nd stage (July 2017-)  The Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks (the  Committee) was established.