In response to the UK Financial Conduct Authority’s proposed discontinuation of LIBOR, Japan, like other countries that rely on LIBOR as the preferred reference rate, has had to consider alternatives for its reference rate that uses USD LIBOR as a component.
In 2019, the Cross Industry Committee on Japanese Yen Interest Rate Benchmarks, together with
The Bank of Thailand currently administers and publishes two reference rates:
The Steering Committee for the Singapore Dollar Swap Offer Rate (“SOR”) transition to the Singapore Overnight Rate Average (“SORA”) has actively facilitated the transition from SOR to SORA. Singapore has been leading the charge in Asia on LIBOR transition matters, with many industry leaders making early shifts towards SORA as the new interest rate benchmark to replace US Dollar LIBOR-linked SOR, which traditionally has been used to price bonds and loans to large institutions.
Continue Reading Transition from Singapore Dollar Swap Offer Rate to Singapore Overnight Rate Average – An Update