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Update on LIBOR reform: HKMA circular

Update on LIBOR reform: HKMA circular

Analysis of HKMA recommendations on LIBOR reform and suggested actions to be taken by authorised institutions in Hong Kong

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On 10 July 2020, the Hong Kong Monetary Authority (HKMA) issued a Circular to update authorised institutions (AIs) on the latest survey result on Reform of Interest Rate Benchmarks and the key milestones that AIs should endeavour to achieve in the transition to alternative risk-free rates. This client update explores the preparatory work the HKMA recommended and suggests actions to be taken by AIs in Hong Kong.

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