7. Final Calculations and Averaging
| No: 43041880 | Date(g): 13/12/2021 | Date(h): 9/5/1443 | Status: In-Force |
Effective from Dec 26 2021 - Dec 25 2021
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| Under the enhanced methodology, the following Minimum Contribution Criteria shall apply. | ||||||||||
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■ | Where 5 or more contributions are received, the contributions will be applied with a trimming methodology where the 2 highest and lowest contributions, per tenor, are excluded from the calculation, once the trimming methodology has been applied, the SAIBOR rates will be calculated as an average of the remaining rate and published to 5 decimal places. | |||||||||
| ■ | If fewer than 5 contributions are received by the time that SAIBOR is due to be published, the fallback arrangement described below will apply. | |||||||||
| Fallback Arrangement | ||||||||||
| ■ | If the minimum 5 contributions are not received by 11:50am KSA time, a fallback arrangement is triggered. Triggering the fallback arrangement extends the contribution window by 30 minutes from 12:00pm to 12:30pm KSA time to accept additional contributions from contributor banks who have not contributed. | |||||||||
| ■ | If the minimum contributions are reached by 12:30pm KSA time, the benchmark will be released. If not, the previous day's SAIBOR value will be republished together with a flag indicating a republication. | |||||||||