Singapore to end Sibor by 2024

Multi-rate approach ditched after failed efforts to enhance Sibor

Singapore shifts to new overnight rate
Bridge too far: Singapore is giving up on Ibor reform

Singapore is set to phase out publication of its key interbank interest rate benchmark within three to four years, with the market to shift to using the new overnight rate.

A report released on July 29 by three industry committees recommends the discontinuation of the one-month and three-month tenors of the Singapore interbank offered rate (Sibor) – benchmarks widely used in the loan market – by some time in 2024.

The report also proposes that six-month Sibor should be discontinued after the

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