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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