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SOR-linked financial products to stop by April 2021 as Singapore gears up for Sora

Sora expected to be de facto floating rate benchmark after April

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Samuel Tsien, SC-STS chairman, says that the committee has "largely completed" the key technical preparation work and laid the foundation for widespread adoption of Sora in a full range of financial products.

Singapore

ISSUANCE of loans and securities linked to the Swap Offer Rate (SOR) that mature after end-2021 will need to cease by April next year, in a push by a financial industry-led committee to shift away from the use of SOR to the Singapore Overnight Rate Average (Sora) in financial...

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