Since August 2018, the National Bank of Georgia has been publishing on a daily basis the key money market indexthe Tbilisi Interbank Rate (TIBR).

Based on a reliable and transparent methodology, the TIBR index enables financial market participants to manage interest rate risks more effectively. In order to support the development of the financial market, TIBR Term and TIBR Compounded indices were introduced in 2019 and 2021, respectively.

Taking into account practical experience accumulated over the years, an assessment of the TIBR calculation methodology was conducted in 2025, and areas for its improvement were identified. As a result, amendments were developed to the Regulation on the Calculation of TIBR Indices. Under the revised methodology, 80% of transaction volumes, rather than the previously applied 70% of the number of interbank transactions, will be used in the calculation of the TIBR rate. In addition, the methodology for calculating the contingency (fallback) arrangements for the TIBR rate has been further refined. As a result of the changes envisaged by the draft order, the calculated TIBR rate will reflect interbank money market interest rates and related changes more accurately and in a timelier manner.

The amendments to the Regulation on the Calculation of TIBR Indices were developed in close cooperation with money market participants. The process also took into account recommendations from specialists of the Treasury Department of the European Bank for Reconstruction and Development (EBRD), as well as practical experience from other developed financial markets.

Interested parties may refer to the previously published press releases regarding the introduction of the updated TIBR index methodology and the launch of the TIBR Term Index - Release 1 | Release 2.