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Results Of The Semi-Annual FX Turnover Surveys In April 2021 - See The Headline Results From An April 2021 Survey Of 27 Financial Institutions That Are Active In The UK Foreign Exchange Market

"Pushing Ahead With SOR-SORA Transition In 2021" - Keynote Speech By Mr Leong Sing Chiong, Deputy Managing Director (Markets & Development), Monetary Authority Of Singapore, At ASIFMA Virtual Event: Singapore IBOR Transition On 2 February 2021


Pushing Ahead With SOR-SORA Transition In 2021 - Keynote Speech By Mr Leong Sing Chiong, Deputy Managing Director (Markets & Development), Monetary Authority Of Singapore, At ASIFMA Virtual Event: Singapore IBOR Transition On 2 February 2021
Date
02/02/2021
Good morning everyone. First, let me take this opportunity to wish everyone a Happy New Year!  Let me also thank the Asia Securities Industry & Financial Markets Association (ASIFMA) and the Association of Banks in Singapore (ABS) for organising this webinar and inviting me to speak on the important issue of Singapore’s interest rate benchmark transition.
2      In the next 20 mins or so, I will do a brief recap of the key objectives and milestones that we had set out last year.  I will then touch on some recent developments in the US and UK that have a bearing on our transition timelines, and I will finally outline what our priorities are for this year in the transition to Singapore Overnight Ra ....

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Singapore rate transition advances in earnest


UOB prices capital securities with reset coupon rate referencing SORA-OIS benchmark
8 Jan 2021 | 
The Asset
In its latest move to promote the use of a new pricing benchmark in the Singapore dollar bond market, UOB has
priced Singapore’s
coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate.
The reset coupon rate of the bank’s perpetual, non-call five-year additional Tier 1 (AT1) securities on the first call date will reference the five-year SORA-OIS rate, instead of the five-year Swap Offer Rate (SOR) interest rate swap (IRS) that had been the benchmark reference rate in the market. ....

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