High rates offer an opportunity for Singapore’s benchmark transition
Rising interest rates should speed the transitioning of legacy SOR loans – but there is little time to spare
The days of near-zero interest rates for most developed economies are coming to an end. For Singapore’s banks, this presents an opportunity to put to bed one of the last remaining challenges in the city-state’s transition to an overnight interest rate benchmark. It is an opportunity they must seize quickly.
Banks in Singapore have until the end of the year to reduce Swap Offer Rate (SOR)
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