BoE has announced that it will become the administrator of the Sterling Overnight Index Average (SONIA) interest rate benchmark on 25 April, with the Wholesale Markets Brokers’ Association acting as calculation and publication agent. BoE confirms the change will have no impact on the calculation methodology or the dissemination of the benchmark data. The transition forms a key part of BoE’s plan to transition SONIA to a new basis using data on unsecured overnight deposit transactions collected directly from banks and building societies as part of a new sterling money market data collection. (Source: BoE to administer SONIA benchmark)