Qatar Inter-bank Offered Rates
(QIBOR) and London Inter-bank Offered Rate
(Libor) three-month interest rates converged further, it said.
Nepra said the aim of tariff determination was to notify an approvable interest rate on financing obtained benchmarked against Karachi inter-bank offered rates
(KIBOR) and London inter-bank offered (LIBOR).
The Commission proposed new standards for benchmarks in September 2013 in the wake of the alleged manipulation of various benchmarks including inter-bank offered rates
(EURIBOR, LIBOR, etc.), benchmarks for foreign exchange (FX) and commodities including gold, silver, oil and biofuels.
"A number of regulators, including MAS, have investigated or taken enforcement actions in relation to attempted manipulation of Inter-Bank Offered Rates ('IBORs')," the MAS said in (http://www.mas.gov.sg/~/media/MAS/News%20and%20Publications/Consultation%20Papers/Financial%20Benchmarks%20Consultation%20Paper%20%2014Jun13.pdf) a report issued Friday on strengthening the regulatory framework of the local banking system.
Libor is an abbreviation for London Inter-Bank Offered Rate.
There are many other inter-bank offered rates
. The UAE has EIBOR (Emirates Inter-Bank Offered Rate
), the EU has EURIBOR, Singapore has SIBOR and Japan has TIBOR.
The three-year floating-rate samurai is expected to have a coupon of 0.80 percent -1.80 percent above the three-month euro-yen London inter-bank offered rates
. The bonds are expected to be priced on June 10, 2011.
These issues have performed well of late given that they yield 3.02 per cent and 2.96 per cent respectively when compared to Wednesday's three-month Emirates Inter-bank Offered Rates
(Eibor) fixing of 2.02 per cent.
The one-year borrowing was given at a rate of 300 basis points above Libor (London inter-bank offered rates
) without a state guarantee, Woori said without giving the name of the European lender.