Singapore leads shift from Libor with $500m note sale

Uploaded By:  Alyssa Divina Submitted By:  Staff Reporter Case Study:  No The country's central bank is the first Asian government body to do so. Singapore is paving the way for London Interbank Offered Rate (Libor) replacement in Asia as its central bank becomes the first government entity in the region to auction notes under a new risk-free rate, reports Bloomberg. The Monetary Authority of Singapore (MAS) auctioned $500m of six-month floating-rate notes with a spread over compounded Singapore Overnight Rate Average (SORA) on 18 August. It received S$2.1 billion of applications. read more