KUALA LUMPUR (May 20): Bank Negara Malaysia (BNM) is seeking feedback on its alternative reference rate (ARR) discussion paper which sets out the proposed design and features of the ARR, potential enhancements to the Kuala Lumpur Interbank Offered Rate (KLIBOR) as well as a review of the Kuala Lumpur Islamic Reference Rate (KLIRR) in line with global financial benchmark reforms and the upcoming London Interbank Offered Rate (LIBOR) cessation for most currencies by end-2021.
“The bank (BNM), in consultation with the Financial Markets Committee (FMC), invites written feedback on this discussion paper, including suggestions to improve clarity on the proposals or alternatives for consideration. To facilitate a constructive consultation process, please support your feedback and views with justifications, evidence or illustrations, where appropriate.
“All queries and responses must be submitted via the attached feedback form electronically by June 18, 2021,” BNM said in a statement on its website.
More to come
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