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The Market Practitioners Group (MPG) recommends that the Jibar fallback rate comprises a compounded South African Rand Overnight Index Average Rate (ZARONIA) and a spread that accounts for the differences between Jibar and ZARONIA. The spread should be based on a historical median of the differences between Jibar and compounded ZARONIA over a five-year lookback period. This methodology aligns with the standard fallback methodology in the ISDA documentation for derivatives.
