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Yesterday, the ICE Benchmark Administration (IBA) which compiles and oversees LIBOR, announced its impending consultation on what it is effectively a proposed extension of most (and the more widely used) US dollar (USD) LIBOR tenors until 30 June 2023. This is hugely significant for the markets in Asia where USD is by far the most

The Asia Pacific Loan Market Association (APLMA) has issued SOFR-based Discussion Documents and Guidance Note on 12 November 2020. This is a significant milestone in promoting discussions and accelerating the transition process in Asia.

There is no settled market approach or convention as yet given the nascent stage of development of the RFR loan markets.

The Association of Banks in Singapore (ABS), the Singapore Foreign Exchange Market Committee (SFEMC), and the Steering Committee for SOR Transition to SORA (SC-STS) have issued a consultation report, SIBOR Reform and the Future Landscape of SGD Interest Rate Benchmarks (Report).

The Report recommends the discontinuation

Last September, the LMA published Exposure Drafts of Compounded RFR Facilities Agreements by reference to SOFR and SONIA (being the chosen replacement near risk free rates for USD markets and LIBOR in the Sterling respectively), along with a commentary inviting market participants to consider various structuring issues (see earlier blog).

The APLMA recently sought

The Monetary Authority of Singapore (MAS) recently issued a consultation paper setting out its proposed regulatory approach for derivatives contracts that reference payment tokens as underlying assets (Payment Token Derivatives).

What is this approach meant to address?

A well-regulated market for derivatives – particularly one anchored by institutional investors with sophisticated

Norton Rose Fulbright has been engaging globally with clients to assist them to update their existing derivatives documentation to ensure regulatory compliance with the varying local implementation of the BCBS-IOSCO final report on “Margin requirements for non-centrally cleared derivatives”. Final rules on margining have been in place for a while in a number of jurisdictions