Singapore Moves on Benchmark Lending Rate

Singapore’s banking regulator said on Friday (Aug 30) it would shift away from using Singapore dollar swap offer rates (SOR) as a key lending benchmark.

The change, which will take place over the next two years, will see products such as loans that reference the rate switched to other benchmarks such as Singapore Overnight Rate Average (SORA), Singapore Interbank Offered Rates (SIBOR) or banks’ internal funding rates.


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