A formal code of conduct is one change being considered by the Hong Kong Association of Banks after a review of the way benchmark lending rates are set. The review, sparked by manipulation of the London Interbank Offered Rate, might also prompt the association to publish fewer rates. "The [Hong Kong Interbank Offered Rate] fixing mechanism remains sound," said the Treasury Markets Association's Henry Cheng, who conducted the review. "The key point of these proposals are to make sure the mechanism can be sustained."

Full Story:

Related Summaries