Commercial buildings at dusk in Central. In Hong Kong alone, there were HK$4.3 trillion worth of assets and HK$34.9 trillion of derivative contracts referencing Libor in September. Photo: Bloomberg
Commercial buildings at dusk in Central. In Hong Kong alone, there were HK$4.3 trillion worth of assets and HK$34.9 trillion of derivative contracts referencing Libor in September. Photo: Bloomberg
Tsai Li Renn
Opinion

Opinion

Macroscope by Tsai Li Renn

Hong Kong must ensure a smooth shift away from the Libor benchmark

  • Hong Kong has made some progress, but will need to accelerate its pace to complete the transition by the end-of-year deadline
  • Singapore, on the other hand, compares quite favourably: the monetary authority has made a clear road map to the use of its new reference rate

Commercial buildings at dusk in Central. In Hong Kong alone, there were HK$4.3 trillion worth of assets and HK$34.9 trillion of derivative contracts referencing Libor in September. Photo: Bloomberg
Commercial buildings at dusk in Central. In Hong Kong alone, there were HK$4.3 trillion worth of assets and HK$34.9 trillion of derivative contracts referencing Libor in September. Photo: Bloomberg
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