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SOR Transition to SORA –

FAQs for Corporate Clients

Overview

The expected discontinuation of USD LIBOR, as announced by the UK regulatory authorities that the benchmark will not be sustained by regulatory powers after end-2021, will directly affect the sustainability of the Singapore Swap Offer Rate (SOR).  In light of these developments, the Singapore Overnight Average Rate (SORA) has been identified as the alternative interest rate benchmark to SOR, and a roadmap for this transition was set out.

Administered by the Monetary Authority of Singapore (MAS), SORA is underpinned by a deep and liquid overnight funding market, and is commonly monitored by money market participants as a reflection of daily conditions in SGD money markets.

You can read the FAQs below to find out more about SORA and the transition.  This information is also available on the Association of Banks in Singapore (ABS) website. These FAQs will be updated periodically.

If you are looking for more information on LIBOR, please click here.

FREQUENTLY ASKED QUESTIONS