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Singapore to end Sibor by 2024
Multi-rate approach ditched after failed efforts to enhance Sibor
![Singapore shifts to new overnight rate Singapore shifts to new overnight rate](/sites/default/files/styles/landscape_750_463/public/2020-07/GettyImages-538065749.jpg.webp?itok=zqjNSoRh)
Singapore is set to phase out publication of its key interbank interest rate benchmark within three to four years, with the market to shift to using the new overnight rate.
A report released on July 29 by three industry committees recommends the discontinuation of the one-month and three-month tenors of the Singapore interbank offered rate (Sibor) – benchmarks widely used in the loan market – by some time in 2024.
The report also proposes that six-month Sibor should be discontinued after the
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