‘Sense of urgency needed for dim sum loan benchmark’: APLMA chair

The offshore renminbi loan market is not going to grow without a reference rate for pricing, but Hong Kong’s Treasury Market Association is waiting until there is more widespread liquidity before pushing for a market rate. They should not wait too long: the sooner an interbank rate is launched, the sooner liquidity will improve in the market, said John Corrin, chairman of the Asia Pacific Loan Market Association, on Monday.