On 31 March 2021 the Singapore Steering Committee for SOR and SIBOR Transition to SORA (“SC-STS”) published a report providing guidance on new industry timelines to cease issuance of SOR derivatives and SIBOR-linked financial products. On the same day SC-STS and the Association of Banks in Singapore issued a joint press release (the “Press Release”) relating to the publication of the SC-STS report.
Continue Reading Singapore Reiterates the Need for Active Transition to SORA