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PBOC pledges to improve interest rate system, to help banks shift to DR based system from Libor

Last updated on September 3, 2020

Chinese central bank pledges to improve interest rate system and help banks to shift from the London Interbank Offered Rate (Libor) to a self-designed interbank repo rate, to align with international efforts ahead of the end of LIBOR at the end of 2021.

The People's Bank of China (PBOC) has formulated a roadmap and timetable for domestic benchmark conversion, based on international consensus, according to a white paper released by the central bank this week . . .

 

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