South Korean regulators push for benchmark rate reform
Authorities encourage wider adoption of repo-based RFR for financial transactions
South Korea’s central bank and financial regulators have unveiled plans to promote wider use of a new benchmark interest rate for financial contracts.
The Bank of Korea (BoK) and the Financial Services Commission (FSC) announced at a conference on August 28 that they were aiming for a transition towards a benchmark centred on the Korea Overnight Financing Repo (KOFR) rate, according to a central bank statement.
The conference – Key Tasks and Future Directions for the Activation of Korea’s Risk
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