Hong Kong to launch offshore renminbi benchmark rates

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Hong Kong's Treasury Markets Association (TMA) today revealed plans to publish a set of benchmark rates for offshore renminbi in a new CNH Hong Kong Interbank Offered Rate (Hibor) fixing to be launched later this year.

A joint statement by the TMA and the Hong Kong Monetary Authority (HKMA) said the new fixing will be launched in June, when "logistics arrangements" are completed, including the appointment of the reference banks and the calculating agent.

Under the current plans, the fixing will

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