Bangladesh central bank making transition from LIBOR to alternative reference rate
Published 24 Dec,2020 via The Financial Express - The central bank on Tuesday issued a draft policy seeking opinions from the stakeholders concerned to set up alternative reference rate after phasing out of the London Inter-Bank Offered Rate (LIBOR).
The draft policy allowed, besides LIBOR, a benchmark rate in the currency of financing with prescribed mark up for discounting/early payment of export bills.
It also focused on short-term trade financing for which presently six-month LIBOR plus 3.50 per cent per annum can be applied.
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The Financial Express