Bank Negara said the financial benchmark reforms are underway internationally to improve the integrity of global interest rate benchmarks or reference rates, in line with the Financial Stability Board’s recommendation.
KUALA LUMPUR: The Financial Markets Committee (FMC) has been appointed to oversee the development of an alternative reference rate (ARR) for Malaysia and to deliberate on the continuity of the Kuala Lumpur Interbank Offered Rate (Klibor), Bank Negara said.
It said the financial benchmark reforms are underway internationally to improve the integrity of global interest rate benchmarks or reference rates, in line with the Financial Stability Board’s recommendation.
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