Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.
March 13, 2023Banks must stress test mortgage borrowers' debt servicing ability assuming a 200 bps rise in the mortgage rate, rather than 300 bps.
September 27, 2022The issuance is aimed at encouraging the private sector to issue similar products and develop of other HONIA-linked instruments.
November 8, 2021New definitions will come into effect on 29 October 2021 to enable firms to include contractual IBOR fallbacks into onshore derivatives transactions.
July 31, 2021Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.
July 14, 2021OTC Clear announced last week that it was launching clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.
May 18, 2021Li Renn Tsai compares progress in Asia’s main trading hubs, warning of a logjam of transition-related operational work that will pile up towards year-end.
May 18, 2021The SFC has approved the launch of clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.
May 11, 2021Banking functions involving risk analytics and cash flow forecasting will need to change to accommodate risk-free rates, says Karen Moss at Moody’s Analytics.
March 19, 2021Banks are expected to develop robust education and outreach programmes to help customers make informed decisions when assessing the options available in the transition.
October 22, 2020