Isda plans second benchmark protocol by ‘end of this year’
Sequel needed to facilitate benchmark transition in countries such as India and the Philippines
The International Swaps and Derivatives Association plans to publish a new fallback protocol before the end of the year to help markets such as India and the Philippines transition away from their local interest rate benchmarks, which are reliant on the outgoing US dollar Libor rate.
“We are considering publishing a second protocol to cover those Asia-Pacific benchmarks that we haven’t covered
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