As mentioned earlier, for the Japanese yen, there is a great deal of support for the term reference rate to be used as an alternative benchmark to JPY LIBOR. The entity responsible for calculating and publishing the term reference rate is scheduled to be determined relatively soon.
*  *  *  Introduction The presentation examines some critical areas in the development of sustainable effective regulatory systems, in the light of the G20, Group of Thirty on Financial reform and the recent IMF Report on Global Financial Stability.