BNM Seeks Feedback On Alternative Reference Rate And Strategic Direction On KLIBOR And KLIRR

Bank Negara Malaysia, in consultation with the Financial Markets Committee, is seeking feedback on a discussion paper, Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRR for the Malaysian Financial Markets, issued on 19 May 2021.

The discussion paper, inter alia, sets out:

• the proposed design and features pertaining to the development of an Alternative Reference Rate (ARR);
• the potential enhancements to the Kuala Lumpur Interbank Offered Rate (KLIBOR); and
• a review of the Kuala Lumpur Islamic Reference Rate (KLIRR), including the potential discontinuation thereof.

The deadline for providing written feedback is 18 June 2021.

Originally published 21 May 2021