High rates offer an opportunity for Singapore’s benchmark transition

Chris Davis
14 Mar 2022

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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) exposures with corporates to 20% – a target set by the Steering Committee for SOR & Sibor Transition to Sora

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