Hong Kong to start quoting offshore Rmb interbank rate
The prospects for a fully functioning syndicated loan market in the offshore renminbi took a step forward on Thursday when Hong Kong’s Treasury Markets Association (TMA) said it would begin quoting a unified rate for CNH Hibor.
From June, the TMA will calculate rates for one week, two weeks, one month, two months, three months, six months and 12 months CNH Hibor based on the submissions of 15-18 banks active in the renminbi interbank market.
The lack of a single benchmark for CNH Hibor is
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