Stronger governance recommended for Hibor
A review of the Hong Kong interbank offered rate (Hibor) has found there was no abuse by the banks involved in the fixing process, but recommended a host of measures to ensure the governance process is as robust as possible.
The Hong Kong Association of Banks (HKAB) commissioned the Treasury Markets Association (TMA) to produce a review of Hibor – the rate of interest offered on Hong Kong dollar loans by banks in the interbank market – and its fixing process following a scandal in the rate
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