UOB announced on Thursday that it has received approval from bondholders to convert the interest rate benchmark for its £350 million (S$650.4 million) floating rate covered bonds due 2023 from sterling London Interbank Offered Rate (Libor) to the compounded daily Sterling Overnight Interest Rate Average (Sonia).
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Chinese banks move to rein in retail gold trading on volatility
They cite risk management for the closures, which covers trading in both spot and deferred delivery contracts
