The MAS Recommended Rate is the fallback rate that will apply to outstanding SOR-based business loans and derivatives when Fallback Rate (SOR) is discontinued after end-2024.
July 20, 2022The extension will encourage further development of the SORA derivatives market and deepen liquidity in longer tenors of SORA OIS.
June 21, 2022Guidance is offered on wholesale markets, corporate loans, derivatives, bonds and retail loans. A public education campaign will start in September 2021.
July 30, 2021The interbank option trade was executed to manage market risk arising from a SORA interest rate option, which was also an industry first.
June 1, 2021Borrowers say the certainty, transparency and stability are key factors affecting their willingness to choose SORA-based loan products.
April 8, 2021Banks are asked to cease issuance of SOR derivatives and SIBOR-linked financial products by end-September 2021.
April 1, 2021The case was initially launched by two US hedge funds and a US-based derivatives trader, alleging they suffered losses due to bank manipulation of the BBSW.
March 23, 2021The case is being reinstated to allow Fund Liquidation Holdings LLC to pursue claims against 18 banks on behalf of two defunct funds that initially launched the lawsuit.
March 19, 2021SOR will now end 18 months later to reflect the IBA's plans, but the transition to SORA in cash products and derivatives markets will continue at pace.
February 3, 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, 2020