Hong Kong Monetary Authority - Reform of Interest Rate Benchmarks

Over the past few years, the Financial Stability Board (FSB) has been working with authorities and standard-setting bodies to develop reform proposals to enhance the robustness of interest rate benchmarks. In the UK, the Financial Conduct Authority has stated that it would not persuade or compel panel banks to contribute to the London Interbank Offered Rate (LIBOR) after 2021. As such, LIBOR will likely be discontinued after 2021 and market participants need to prepare for transitioning away from LIBOR to alterative reference rates (ARRs).

22 ก.พ. 2022 ... Overall, the Hong Kong banking sector has transitioned away smoothly from the LIBOR settings that ceased publication after end-2021. In Hong ...

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