The benchmark three-month Kuala Lumpur Interbank Offered Rates
remained at last week's 3.69 per cent.
Commercial banks in United Arab Emirates will be required to provide written justifications for their quotes when they take part in a panel setting Emirates Interbank Offered Rates
(EIBOR), according to Reuters.
Commodity Futures Trading Commission (CFTC) to settle its investigations into LIBOR (London Interbank Offered Rate
) and related interbank offered rates
and USD ISDAFIX (International Swaps and Derivatives Association Fix) benchmark rates.
The joint settlement is part of an industry-wide investigation into past submissions for interbank offered rates
In Bowles' draft report, administrators of certain benchmark categories will be subject to regulation, such as administrators of critical benchmarks', commodity benchmarks, any administrator of at least one major benchmark, IBORs (interbank offered rates
), overnight index swaps, and any administrator of a benchmark that the competent authority has investigated and concluded requires supervision.
Charges against him include conspiring with others "to defraud in dishonestly seeking to manipulate yen London interbank offered rates
and other interbank offered rates
The quotes are averaged to arrive at a daily range of Emirates Interbank Offered Rates
(Eibor), which are used to price financial instruments in the Gulf's top financial centre.
Higher deposits helped UAE interbank offered rates
edge down since October and both the central bank and traders expected a further drop.
The bank has priced JPY51.8bn of five-year fixed-rate bonds with a coupon of 0.95 percent, and also offered JPY28.2bn of three-year floating-rate samurai with a spread of 0.3 percent above three-month London interbank offered rates
The central bank, keen to lower interbank offered rates
it says do not reflect the market, said earlier this month it wanted to introduce a new mechanism to set the rate.
ABU DHABI: Interbank offered rates
in the UAE fell on Wednesday, a day after the central bank said it was concerned current rates did not reflect the market and was in talks to create a new benchmark mechanism, under its remit.