SINGAPORE (Feb 25): The transition from the Singapore dollar swap offer rate (SOR) and Singapore interbank offered rate (SIBOR) to the Singapore overnight rate average (SORA) was successfully completed, the Steering Committee for SOR and SIBOR Transition to SORA (SC-STS) announced.

This comes after banks in Singapore completed the transition to SORA from SIBOR on Dec 31, 2024, with about 87,000 retail loans affected in the transition.

The SIBOR to SORA transition largely involved the retail customers of banks, due to their usage in retail mortgage loans...(click here for the full story on theedgesingapore.com).