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SIBOR stands for Singapore Interbank Offered Rate [1] and is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Singapore wholesale money market (or interbank market). It is similar to the widely used LIBOR (London Interbank Offered Rate), and Euribor (Euro Interbank Offered ...
It is an alternative to Singapore Interbank Offered Rate (SIBOR) which is a measure of the interbank money market rates. [1] As of December 2018, SOR is measured and published periods of overnight, 1 month, 3 month, and 6 month. Like SIBOR, SOR is set by the Association of Banks in Singapore, and is also publicly available. [2]
The MAS Electronic Payment System, or MEPS in short, is an SGD-only online interbank payment and fund transfer system in Singapore. [1] It went online in July 1998, and is owned and operated by the Monetary Authority of Singapore (MAS). The irrevocable transfer of funds and the real-time nature of transfers are some of the key features of MEPS.
A reference rate is a rate that determines pay-offs in a financial contract and that is outside the control of the parties to the contract. It is often some form of LIBOR rate, but it can take many forms, such as a consumer price index , a house price index or an unemployment rate .
It is a wholesale market through which most currency transactions are channeled. It is mainly used for trading among bankers. The three main constituents of the interbank market are: the spot market; the forward market; SWIFT (Society for World-Wide Interbank Financial Telecommunications) The interbank market is unregulated and decentralized.
JPMorgan Chase & Co (NYSE:JPM) has been fined S$2.4 million ($1.8 million) by the Monetary Authority of Singapore (MAS) for failing to prevent and detect misconduct by its relationship managers (RMs).
atm⁵ is an interbank network in Singapore, connecting the ATMs of six of Singapore's eight qualifying full banks, QFB. As of 2016, there are 230+ atm⁵ ATMs island-wide. The network was established in April 2005.
South Africa won a bilateral Twenty20 series for the first time in more than two years when it chased down Pakistan's 206 on Friday. Opener Reeza Hendricks' maiden T20 century, 117 off 63 balls ...