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HKAB HKD Interest Settlement Rates
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HKAB HKD Interest Settlement Rates [print]
[  Introduction  |  Reference Banks  |  Fallback Arrangements  ]
Introduction
HKD Interest Settlement Rates (commonly known as Hong Kong Interbank Offered Rates or HIBOR) are the rates of interest for Hong Kong Dollar deposits for the relevant period calculated by HKAB each day (except Saturdays and general holidays) and displayed at 11:15 a.m. on the website of HKAB. The fixings are made on the basis of quotations provided by 12-20 banks designated by HKAB as reference banks and are available for HKD deposit maturity ranging between overnight deposits and 12 months. The fixings are determined by averaging the middle quotes after excluding the highest three quotes and lowest three quotes received from the reference banks with the result rounded up, if necessary, to the fifth decimal place.
Proceed to download or view the daily HKD Interest Settlement Rates by clicking [here].
 

Reference Banks (2 October 2017 - 30 September 2018)

Agricultural Bank of China Limited

Australia and New Zealand Banking Group Limited

Bank of China (Hong Kong) Limited

Bank of Communications Co., Ltd.

The Bank of East Asia, Limited

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

BNP Paribas

China CITIC Bank International Limited

China Construction Bank (Asia) Corporation Limited

China Development Bank 

Citibank, N.A.

Crédit Agricole Corporate and Investment Bank

DBS Bank (Hong Kong) Limited

Hang Seng Bank Limited

The Hongkong and Shanghai Banking Corporation Limited

Industrial and Commercial Bank of China (Asia) Limited

JPMorgan Chase Bank, N.A.

Mizuho Bank, Ltd.

Standard Chartered Bank (Hong Kong) Limited

Sumitomo Mitsui Banking Corporation

 

The panel of reference banks appointed by HKAB is subject to annual review having regard to the criteria recommended by the Hong Kong Monetary Authority.



Fallback Arrangements
HKAB endeavours to calculate and publish HIBOR fixings timely. In the event of unforeseen circumstances disrupting the normal HIBOR fixings, the following arrangements will apply:

Scenario

Outcome

Scenario A

(a)

(b)

At least 12 reference banks (60%) have contributed rates as of 11:00 a.m. by 11:15 a.m.; and
There is no problem with the calculation agent.

HIBOR fixings are published as usual at 11:15 a.m. using the standard methodology.

Scenario B

(a)
(b)

(c)

The conditions for Scenario A are not met;
At least 12 reference banks have contributed rates as of 2:15 p.m. by 2:30 p.m.; and
There is no problem with calculationagent.

HIBOR fixings are deferred to 2:30 p.m. of the same day using the standard methodology.


Scenario C

(a)

The conditions for Scenarios A and B are not met; and  
  (b1) The particular day is a normal business day
That day's HIBOR will be based on the HIBOR fixings of the previous business day.
  (b2) The particular day is deemed not a business day
        (e.g. owing to a typhoon or black rainstorm)
That day's HIBOR will be based on the HIBOR fixings of the next business day.





























 
   
   
   
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