UOB priced its perpetual, non-call five-year AT1 securities with a reset coupon rate that references the SORA-OIS rate.
January 11, 2021The one-month and three-month SIBOR will be discontinued by end-2024. The discontinuation of the six-month SIBOR may depend on the timing of cessation of USD LIBOR.
December 11, 2020Proposed reforms were found to display “noticeable differences in volatility and levels compared to SIBOR”, which will present challenges to industry adoption.
July 30, 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, 2020DBS has priced the first floating-rate notes referencing SORA, identified last August as Singapore's alternative interest rate benchmark to SOR.
May 7, 2020Singapore's banking body and foreign exchange market committee have identified SORA as “the most robust and suitable” alternative interest rate benchmark to SOR.
September 2, 2019Transition testing will be conducted initially for six months to determine if a transition to the proposed waterfall methodology is possible or if further refinements are needed.
July 2, 2019MAS deputy managing director Jacqueline Loh spoke about the steps taken in adopting and embedding the FX Global Code in the industry and key priorities for the coming year.
August 30, 2018Singapore’s benchmark operators have incorporated feedback from market participants following a consultation that ended in February; the new computation methodology will use a waterfall method incorporating wholesale funding and related markets transactions.
July 26, 2018