Banks 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, 2020Singapore is seen to be leading Asia in its preparation for the cessation of LIBOR at the end-of 2021. Earlier this month, MAS announced new initiatives to catalyse SORA markets.
August 20, 2020The calculations being published include the adjusted RFRs, the spread adjustment and the ‘all in’ IBOR fallback rates for certain key IBORs across various tenors.
July 22, 2020The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.
July 10, 2020With the first interest rate swap transaction referencing the new Singapore Overnight Rate Average, the island state hopes to stay ahead of regional peers.
June 1, 2020About HK$1.4tr in assets, HK$0.5tr in liabilities, and HK$14.7tr in derivatives still referencing LIBOR will mature after end-2021 and don't have fallbacks in place.
April 24, 2020The base rate is being adjusted downwards to 0.86%, while the countercyclical capital buffer is being reduced from 2.0% to 1.0% to bolster lending.
March 16, 2020TMA published feedback from market participants on HONIA as the successor to HIBOR in late December but unlike its US counterpart SOFR, Asian businesses are taking time to adapt.
January 20, 2020HONIA will continue to be calculated based on data from the existing five contributing money brokers for now, but the reporting window will change to 8:00-16:00.
December 16, 2019Asian banks have a large and complex operational task ahead of them as they prepare for a post-LIBOR world after 2021, say KPMG’s Marie Gervacio and Luke Gower.
October 30, 2019