よくある質問
SIBOR Transition FAQs
Why is SIBOR being phased out in Singapore?
The Association of Banks in Singapore recommends phasing out SIBOR due to global benchmark reforms and replacing it with SORA, which is more robust and transaction-based.
How will the SIBOR to SORA transition affect my home loan?
Existing SIBOR-pegged loans will need to transition to SORA or other reference rates. Banks will contact borrowers with options, potentially affecting interest calculations.
What should property owners do about SIBOR insurance products?
Review any insurance products tied to SIBOR rates and consult with providers about transition plans to ensure continuous coverage under new reference rates.