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Hong Kong’s sluggish reform of rate of interest benchmarks has put US$2.2 trillion price of hedging contracts in danger, say market observers – NEWPAPER24

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Hong Kong’s sluggish reform of rate of interest benchmarks has put US$2.2 trillion price of hedging contracts in danger, say market observers

2020-10-18 02:00:06

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Hong Kong banks danger falling behind within the international effort to reform rate of interest benchmarks because the scandal-ridden London Interbank Supplied Fee (Libor) is about to be phased out by the tip of subsequent 12 months.Hong Kong’s lack of a plan to part out the native fee – the Hong Kong Interbank Supplied Fee (Hibor) – means companies which have entered into hedging preparations with banks that expire after Libor ceases to exist on the finish of 2021 may wrestle to restructure their contracts.This might be an …

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