Regulatory Alerts2021-08-19
Added · Updated
Reform of interest rate benchmarks
The Hong Kong Monetary Authority directs authorized institutions to accelerate the transition from LIBOR to SOFR following the ARRC's recommendation of forward-looking SOFR term rates. The regulator permits new USD LIBOR-linked contracts after 2021 only under specific exceptional circumstances, such as hedging pre-existing exposures or market making for legacy transactions. To ensure a smooth transition, the HKMA will increase surveillance frequency and simplify reporting templates for authorized institutions through the end of 2021.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
monetary
Share