Benchmark-related resources in selected Asia-Pacific markets
ICMA has been engaging with regulators and members on the global issue of benchmark reform for several years. Information on ICMA’s activities and links to official sector and other information and materials are available on the ICMA Benchmark reform and transition to risk-free rates webpage.

This webpage provides links to official sector materials and other information in respect of benchmark-related developments in selected Asia-Pacific markets.


Regional
 
Executives' Meeting of East Asia Pacific Central Banks (EMEAP): Study on the Implications of Financial Benchmark Reforms (September 2019).

 
Australia
 
Reserve Bank of Australia: Resources and updates on interest rate benchmark reform.
 
Australian Securities and Investments Commission: Resources on financial benchmarks.
 
Australian Financial Markets Association (AFMA): Developments regarding benchmarks relating to IBOR transition.


Hong Kong
 
Hong Kong Treasury Markets Association (TMA): Technical refinements to the HKD Overnight Index Average (HONIA) (December 2019).
 
Hong Kong Monetary Authority (HKMA): Letter Regarding Transition to New Reference Rates (October 2019).
 
Hong Kong Monetary Authority (HKMA): Circular regarding preparations for the transition associated with interest rate benchmark reform (March 2019).


Japan

Japan Financial Services Agency: Resources and updates on preparation for permanent cessation of LIBOR.

Japan Financial Services Agency and Bank of Japan: Summary of survey results on the use of LIBOR and main action needed (March 2020).

Bank of Japan: Interest Rate Benchmark Reform in Japan (January 2019).
 
Bank of Japan: Final Report on the Results of the Public Consultation on the Appropriate Choice and Usage of Japanese Yen Interest Rate Benchmarks (November 2019).


Singapore

Association of Banks in Singapore and the Steering Committee for SOR Transition to SORA: Response to feedback received on proposed Roadmap for Transition from SOR to SORA (March 2020).

Association of Banks in Singapore and the Steering Committee for SOR Transition to SORA: Key priorities to achieve smooth transition to SORA (March 2020).
 
Monetary Authority of Singapore (MAS): Interest Rate Benchmark Transition from SGD Swap Offer Rate (SOR) to Singapore Overnight Rate Average (SORA) (August 2019).
 
Association of Banks of Singapore: Roadmap for transition of interest rate benchmarks from SOR to SORA (August 2019).


Taiwan, province of China
 
Central Bank of Taiwan: Notice to financial instutions in relation to transition from LIBOR (February 2020, Chinese language only).
 
Financial Supervisory Commission: Notice to financial instutions in relation to transition from LIBOR (February 2020, Chinese language only).


Thailand
 
Bank of Thailand: Update on Impacts of Benchmark Reform on Thai Institutions (October 2019).




Contact

For further queries or suggestions, please contact the ICMA Regulatory Helpdesk (ICMA members only).

ICMA Podcast