SINGAPORE – Singapore’s money-market rates have dropped as traders shrug off the central bank’s first monetary policy shift in five years. The Singapore Overnight Rate Average, the de facto ...

The SORA market has since grown to more than $3 trillion in outstanding derivatives, bonds, and loans, comparable to the size of the SOR and SIBOR market before the start of the transition exercise.

Over 87,000 retail loans were transitioned to the new benchmark rate. Singapore banks have successfully transitioned to using the Singapore Overnight Rate Average (SORA), announced the Association ...