3M Compounded SORA The 3M Compounded SORA means the 3-Month Compounded Singapore Overnight Rate Average. The 3-Month Compounded Singapore Overnight Rate Average for a given business day is published by 9am on the next business day on the Monetary Authority of Singapore (“MAS”) website or ...
Singapore, 18 August 2020– OCBC Bank has scored another first in launching a new SORA-based home loan referencing the 3-month Compounded Singapore Overnight Rate Average (SORA) published by the Monetary Authority of Singapore (MAS). It is another step by OCBC Bank to contribute to Singapore’...
SORA is a backward-looking overnight rate as compared to a forward-looking reference rate commonly used for floating home loan packages in Singapore, such as Singapore Interbank Offered Rate (SIBOR) where the interest rate is determined at the start of the interest period. The OCBC 90-Day SORA...
1The SC-STS refers to the Steering Committee for SOR & SIBOR Transition to SORA. It was established by the MAS in August 2019 to oversee the industry-wide interest rate benchmark transition from SOR to SORA. The MAS subsequently expanded the committee’s mandate in December 2020 to include ...
OCBC Bank has launched a new Sora-based home loan, which references the three-month compounded Singapore overnight rate average (Sora) that is published by the Monetary Authority of Singapore (MAS). The three-month Compounded Sora Home Loan is available for all loan types – completed ...
The key components of the SCP are:• Your existing SIBOR loan margin will remain unchanged;• 3-month Compounded SORA, is a floating interest rate benchmark published by MAS (see above FAQ);• Adjustment Spread will be added to account for the difference between SIBOR and 3-month compou...
SORA is administered by MAS and is calculated as the volume-weighted “average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore”. It is therefore quite different to SOR, as summarised in the table below: ...
The MAS uses exchange rate mechanisms as its main policy tool, and currently, the liquidity in the Singapore dollar market remains high. The loan-to-deposit ratio has seen a drop from 70.5% at the end of 2023 to 68.2% as of January, which contributes to the overall lower borrowing costs...
The MAS uses exchange rate mechanisms as its main policy tool, and currently, the liquidity in the Singapore dollar market remains high. The loan-to-deposit ratio has seen a drop from 70.5% at the end of 2023 to 68.2% as of January, which contributes to the overall lower borrowing costs...
SORA is a backward-looking overnight rate as compared to forward-looking reference rates commonly used for loan facilities in Singapore, such as the SGD Swap Offer Rate (SOR) where the interest rate is determined at the start of the interest period. To determine the interest rate ...