MAS sets up steering committee to drive interest rate benchmark transition
02 Sep 2019
The Monetary Authority of Singapore (“MAS”) announced on 30 August 2019 the establishment of the Steering Committee for Swap Offer Rate (“SOR”) Transition to Singapore Overnight Rate Average (“SORA”) (“SC-STS”). The SC-STS committee will oversee an industry-wide interest rate benchmark transition from SOR to SORA. This update introduces the SC-STS committee.
Read more on the update here.