Proposed phasing out SIBOR in 3 to 4 years
20/08/2020
Singapore Overnight Rate Average (SORA) proposed to be progressively used instead of SIBOR as the main interest rate benchmark for SGD financial markets in 3-4 years, to avoid market fragmentation, facilitate transparency and easier comparison of loan pricing.
Consultation report proposes phasing out SIBOR in 3 to 4 years, shifting to new standard