# Singapore debuts floater linked to risk-free rate

## DBS to issue one-year note with compounded SORA coupon

DBS is expected to issue the first floating rate note linked to the Singapore overnight rate average, SORA, this week. The issuance of the S$20 million ($14 million) one-year note is seen as an early step in building a term structure for Singapore’s chosen risk-free rate.

“This is part of the effort to build a new benchmark for the market; we are just chipping in to help,” says Andrew Ng, who heads the treasury team at DBS in Singapore. “It is only a one-year SORA note, but what we would like

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

#### Risk Management

###### EBA warns banks over loan-loss model tinkering

Senior executive says methods of adjusting IFRS 9 models to “smooth” outputs should be investigated