Central Bank of Malaysia
Central Bank of Malaysia
10/22/2021 | Press release | Distributed by Public on 10/22/2021 08:48
Cessation of LIBOR-Referencing Contract Issuance
Cessation of LIBOR-Referencing Contract Issuance
Embargo : For immediate release Not for publication or broadcast before 2227 on Friday, 22 October 202122 Oct 2021
Globally, risk-free rates (RFRs) will replace LIBOR for major currencies from January 2022 onwards. In line with this global development, Bank Negara Malaysia requires banks to cease new issuance of LIBOR-referencing contracts by 31 December 2021. The e-brochure emphasises the urgency for bank customers to be prepared for the transition from LIBOR to RFRs.
See also: Developments of the Benchmark Rate Reform in Malaysia
Bank Negara Malaysia
22 Oct 2021
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