ABS Co. - RATE SETTING BENCHMARKS

ABS Benchmarks Administration Co Pte Ltd (ABS Co.) was setup in June 2013 specifically to own and administer the ABS Benchmarks in Singapore - the Singapore Interbank Offered Rate (SIBOR), the Swap Offer Rate (SOR), the SGD Spot FX and the THB Spot FX. It is a fully owned subsidiary of the Association of Banks in Singapore (ABS).

Thomson Reuters is the official Calculating Agent of the ABS Co SIBOR and SWAP Offer Rates.

Consultation Paper on the Evolution of SIBOR

This consultation paper sets out the proposals to strengthen the SGD Singapore Interbank Offered Rates (“SIBOR”) methodology, and seeks feedback on a range of issues.

Click here for the Consultation Paper. (Please submit your feedback using this Response Form).

Click here for the press release

ABS & Singapore Foreign Exchange Market Committee (SFEMC) welcomes interested parties to provide their feedback on the proposals set out in this consultation paper by 05 February 2018. Electronic submissions are encouraged.

Please submit feedback via the following means

Email
absCo@abs.org.sg
Post
ABS Benchmarks Administration Co Pte Ltd (ABS Co.)
#12-08, MAS Building
10 Shenton Way, Singapore 079117
Fax
+65 6224 1785

Please note that all submissions received may be made public unless confidentiality is specifically requested for the whole or part of the submission.

ABS, ABS Co and SFEMC, and any persons or entities acting on their behalf, do not give any warranties or representations concerning any data and information contained in it.

Definitions

SIBOR stands for Singapore Interbank Offered Rates. An individual Contributor Bank contributes the rate at which it could borrow funds, were it to do so by asking for and accepting the interbank offers in reasonable market size, just prior to 11:00 a.m. Singapore time.

SOR is defined as the synthetic rate for deposits in SGD, which represents the effective cost of borrowing the SGD synthetically by borrowing USD for the same maturity, and swap out the USD in return for the SGD.

Calculation Methodology

IOSCO Statement of Compliance

SIBOR Panel Banks

Published SIBOR & SOR

From 1 October 2015, the rates will be published on the ABS website seven days after. Click here to view the rates.

Real-time SIBOR and SOR data to be Fee-liable from 1 October 2015

From 1 October 2015, SIBOR and SOR data will be subjected to usage fees, in line with global development on benchmark data usage. In addition, subscribers who receive real-time SIBOR and/or SOR data from a market data vendor will be required to pay end user fees. Data delayed by 24-hours or more will be available for free to end users.


Please contact ABS Co at absCo@abs.org.sg or +65 6224-4300 for more information