In a bid to proactively adapt the new risk-free benchmarks on existing loans and derivatives, DBS Bank India has announced the first active transitioning of an
Administered by the Monetary Authority of Singapore, interest rate benchmark SORA now indexes derivatives worth over S$200 billion and loans amounting to S$10 billion. Read more at straitstimes.com.
<h2><span style="font-size: small;">INTRODUCTION</span></h2>
<p><span style="font-size: small;">1. In its April 2021 Monetary Policy Statement, MAS kept the rate of appreciation of the S$NEER policy band at zero percent, with no change to the width of the policy band or the level at which it was centred. This policy stance was appropriate as core inflation was projected to rise only gradually from subdued levels and keep below its historical average.</span></p>
Borrowers with floating-rate mortgages have to switch out of their loans as SOR and SIBOR will be discontinued in 2023 and 2024, respectively . Read more at straitstimes.com.