ISSUANCE of loans and securities linked to the Swap Offer Rate (SOR) that mature after end-2021 will need to cease by April next year, in a push by a financial industry-led committee to shift away from the use of SOR to the Singapore Overnight Rate Average (Sora) in financial products.
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China asks banks to report exposure to Venezuela after US raid
The directive underscores growing concerns among regulators about potential shocks to the banking sector
