View Full Version : SIBOR SOR rates at 11am Daily
Rate Name Rate
1M SIBOR 0.31248
3M SIBOR 0.39275
3M SOR 0.38471
Last updated on 29 Mar
Are you going to update this thread daily basis?
Do update promotions if you know of any... ;)
Are you going to update this thread daily basis?
yes i will :)
Do update promotions if you know of any... ;)
COMING.. a good package! In meantime, visit FindaHomeLoan.sg to compare.
COMING.. a good package! In meantime, visit FindaHomeLoan.sg to compare.
Yes, good deal will be considered.
Declare fine print as well. :D
Rate Name Rate
1M SIBOR 0.31248
3M SIBOR 0.39275
3M SOR 0.38471
Last updated on 29 Mar
u missed 1M SOR 0.22605
http://www.bloomberg.com/quote/SORF1M:IND
http://www.bloomberg.com/quote/SORF3M:IND
http://www.bloomberg.com/quote/SIBF1M:IND
http://www.bloomberg.com/quote/SIBF3M:IND
u missed 1M SOR 0.22605
http://www.bloomberg.com/quote/SORF1M:IND
http://www.bloomberg.com/quote/SORF3M:IND
http://www.bloomberg.com/quote/SIBF1M:IND
http://www.bloomberg.com/quote/SIBF3M:IND
because there is no package on 1M SOR today. Anyway, its included in the site and will post it here.
devilplate
29-03-12, 18:05
Wats the best buc package now?
Rate Name Rate
1M SIBOR 0.31248
3M SIBOR 0.39275
3M SOR 0.38471
Last updated on 29 Mar
Good job.;)
Well Done ! Thxs for the updates bro !
Really appreciate it.
flagship74
29-03-12, 22:43
yeah nice contribution:cheers4:
Wats the best buc package now?
what quantum? May I redirect you to FindaHomeLoan.sg and you indicate the quantum?
For new launch, UOB is offering
0.7% + (1M or 3M SIBOR)%
0.7% + (1M or 3M SIBOR)%
0.75% + (1M or 3M SIBOR)%
0.75% + (1M or 3M SIBOR)%
1.0% + (1M or 3M SIBOR)% TH
and I assume bro DP is asking abt PTE not HDB. hahaha.
Rate Name Rate
1M SIBOR 0.31376
3M SIBOR 0.39744
3M SOR 0.36077
1M SOR 0.22605
Last updated on 30 Mar
bargain hunter
30-03-12, 11:09
clicked on your http://findahomeloan.sg/ but can't get to the site. something wrong?
clicked on your http://findahomeloan.sg/ but can't get to the site. something wrong?
no problem leh.. but funnily, there are few people who mentioned it.. I am looking into it. Thanks for informing.
Pls try
www.findahomeloan.sg
www.findahomeloan.com.sg
clicked on your http://findahomeloan.sg/ but can't get to the site. something wrong?But I can get in leh!
I've been monitoring the SOR daily too......any reason why it dipped from 0.4+% to 0.36% in only 2 days? that's quite a drop considering the trend lately? hope it drops further coz my next SOR i/r repricing is on 11 May.... :D
I've been monitoring the SOR daily too......any reason why it dipped from 0.4+% to 0.36% in only 2 days? that's quite a drop considering the trend lately? hope it drops further coz my next SOR i/r repricing is on 11 May.... :D
I thot SOR has a Cap and revert to O.45 or 0.65 once a thrashold is breech ?
bargain hunter
30-03-12, 20:51
the 2 links u provided are ok. the one right at the bottom where u sign off directs me to www.iis.net (http://www.iis.net) when i click on it.
no problem leh.. but funnily, there are few people who mentioned it.. I am looking into it. Thanks for informing.
Pls try
www.findahomeloan.sg (http://www.findahomeloan.sg)
www.findahomeloan.com.sg (http://www.findahomeloan.com.sg)
That is great news!!!
Rate Name Rate
1M SIBOR 0.31376
3M SIBOR 0.39744
3M SOR 0.36077
1M SOR 0.22605
Last updated on 30 Mar
flagship74
30-03-12, 23:05
I've been monitoring the SOR daily too......any reason why it dipped from 0.4+% to 0.36% in only 2 days? that's quite a drop considering the trend lately? hope it drops further coz my next SOR i/r repricing is on 11 May.... :D
Probably due to rate exchange..
I've been monitoring the SOR daily too......any reason why it dipped from 0.4+% to 0.36% in only 2 days? that's quite a drop considering the trend lately? hope it drops further coz my next SOR i/r repricing is on 11 May.... :D
Because
1) Ben just said "accommodative policies needed", which means US$ printing will continue, therefore USDSGD rates is expected to go down, hence the drop of SOR
2) month end effect.
I thot SOR has a Cap and revert to O.45 or 0.65 once a thrashold is breech ?
SOR is a computed rate from USDSGD forwards. There is neither CAP nor FLOOR.
Rate Name Rate
1M SIBOR 0.31362
3M SIBOR 0.39494
3M SOR 0.35627
1M SOR 0.22688
Last updated on 2 Apr
SOR is a computed rate from USDSGD forwards. There is neither CAP nor FLOOR.
not sure if anyone is referring to the CAP or FLOOR rate enforced by banks if and when SOR becomes negative.
Rate Name Rate
1M SIBOR 0.31362
3M SIBOR 0.39494
3M SOR 0.35627
1M SOR 0.22688
Last updated on 2 Apr
..hmmm ur fixings seem wrong. The numbers from this morning are:
SIBF1M: 0.31394
SIBF3M: 0.39171
SORF1M: 0.24516
SORF3M: 0.37353
Note SOR rates go up right after month end.
..hmmm ur fixings seem wrong. The numbers from this morning are:
SIBF1M: 0.31394
SIBF3M: 0.39171
SORF1M: 0.24516
SORF3M: 0.37353
Note SOR rates go up right after month end.
you are right! I think it's because I checked at 11am and site yet to update. Not real time, unless I subscribe to Bloomberg. I will update at 1130am next time. Thanks for spotting. :cheers3:
Rate Name Rate
1M SIBOR 0.31345
3M SIBOR 0.39469
3M SOR 0.35177
1M SOR 0.21501
Last updated on 3 Apr
Rate Name Rate
1M SIBOR 0.31345
3M SIBOR 0.39469
3M SOR 0.35177
1M SOR 0.21501
Last updated on 4 Apr
Rate Name Rate
1M SIBOR 0.31334
3M SIBOR 0.39472
3M SOR 0.36046
1M SOR 0.23119
Last updated on 6 Apr
I have received a letter from my bank dd 03/04/2012. There is a slight revise in int rate for my 3mth sibor package.
Rate Name Rate
1M SIBOR 0.31334
3M SIBOR 0.39472
3M SOR 0.35845
1M SOR 0.23122
Last updated on 9 Apr
Rate Name Rate
1M SIBOR 0.31333
3M SIBOR 0.39417
3M SOR 0.35188
1M SOR 0.22345
Last updated on 10 Apr
Rate Name Rate
1M SIBOR 0.31357
3M SIBOR 0.39679
3M SOR 0.34733
1M SOR 0.22765
Last updated on 11 Apr
Rate Name Rate
1M SIBOR 0.31378
3M SIBOR 0.40042
3M SOR 0.31931
1M SOR 0.20559
Last updated on 12 Apr
SOR is really dropping.
Rate Name Rate
1M SIBOR 0.31378
3M SIBOR 0.40042
3M SOR 0.31931
1M SOR 0.20559
Last updated on 12 Apr
Unbelievable. Rates are dropping. I thought property market would be dull after first few months. I was wrong!
Rate Name Rate
1M SIBOR 0.31241
3M SIBOR 0.39156
3M SOR 0.3417
1M SOR 0.22181
Last updated on 13 Apr
SOR is really dropping.
dont speak too soon :cheers5:
Rate Name Rate
1M SIBOR 0.31249
3M SIBOR 0.39393
3M SOR 0.36485
1M SOR 0.23599
Last updated on 16 Apr
I have already received my revised downward interest rate statement two days ago. :D
dont speak too soon :cheers5:
Rate Name Rate
1M SIBOR 0.3125
3M SIBOR 0.39393
3M SOR 0.37054
1M SOR 0.23563
Last updated on 17 Apr
rattydrama
17-04-12, 16:18
good thread. suggest to put up a monthly by month summary sheetat the end of every month if possible.
http://www.economist.com/node/21549961
interesting read
good thread. suggest to put up a monthly by month summary sheetat the end of every month if possible.
can elaborate? i will consider..
Great thread, upss for your good effort!
Rate Name Rate
1M SIBOR 0.31249
3M SIBOR 0.39156
3M SOR 0.36057
1M SOR 0.21856
Last updated on 18 Apr
Rate Name Rate
1M SIBOR 0.31244
3M SIBOR 0.39844
3M SOR 0.35918
1M SOR 0.21885
Last updated on 19 Apr
I like this. Appreciate your information every day.
Rate Name Rate
1M SIBOR 0.31249
3M SIBOR 0.39393
3M SOR 0.35132
1M SOR 0.21752
Last updated on 20 Apr
https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/543633_3280186636438_1020706983_32462087_2058920985_n.jpg
The chart shows how the Fed’s lending facilities, zero interest rates and $700 billion bank bailout (TARP) helped to put a bottom under a market that had fallen off a cliff. Then came the first round of Quantitative Easing (QE1) during which the Fed purchased $1.25 trillion in mortgage-backed securities (MBS), $200 billion in US Treasuries and $150 billion in agency debt (Fannie and Freddie) This massive infusion of liquidity triggered a sharp rebound in equities starting on March 9, 2009. It also transformed the Central Bank’s balance sheet into the largest waste treatment facility on planet earth.
By May 2010, the Fed’s adrenalin rush began to wear off and stocks began to sag once again. That led to a second round of QE, a $600 billion mainline injection which sent equities soaring until midyear 2011. When the markets tailed off in May, Fed chairman Bernanke initiated a third round of QE (Operation Twist) which buoyed stocks with another $400 billion in liquidity. Operation Twist is set to end in mid-June, after which Bernanke will undoubtedly find some excuse to launch yet another round of bond buying to keep stock prices artificially high. Many of the big banks and bond funds have already started buying up distressed MBS in anticipation of QE3. It’s not likely that Bernanke will disappoint them.
http://www.counterpunch.org/2012/04/20/bernankes-plan-for-the-middle-class/
Rate Name Rate
1M SIBOR 0.31249
3M SIBOR 0.39156
3M SOR 0.34554
1M SOR 0.20905
Last updated on 23 Apr
Allthepies
23-04-12, 22:44
The green and blue lines split, look worrisome, tension building up?!
Rate Name Rate
1M SIBOR 0.32089
3M SIBOR 0.385
3M SOR 0.32788
1M SOR 0.20122
Last updated on 24 Apr
Rate Name Rate
1M SIBOR 0.31708
3M SIBOR 0.3775
3M SOR 0.35387
1M SOR 0.21179
Last updated on 25 Apr
Rate Name Rate
1M SIBOR 0.31708
3M SIBOR 0.3775
3M SOR 0.35387
1M SOR 0.21179
Last updated on 25 Apr
Just a quick question. The banke is offering package. Normally 1 month sibor is better or 3 month sibor is better in this market trend.
flagship74
25-04-12, 20:17
Just a quick question. The banke is offering package. Normally 1 month sibor is better or 3 month sibor is better in this market trend.
1 mth is gd
Just a quick question. The banke is offering package. Normally 1 month sibor is better or 3 month sibor is better in this market trend.
a long maturity rate by definition is higher than a short maturity rate (on the same fixing date).
over the last 10ys, Sibor1M has been almost always lower than Sibor3M except for a few strange days.
so yes 1M is better than 3M
In this kind of economy, 1 month is a sure winner. The problem is you need to keep changing your CPF.
Rate Name Rate
1M SIBOR 0.31984
3M SIBOR 0.38906
3M SOR 0.339
1M SOR 0.20925
Last updated on 26 Apr
In this kind of economy, 1 month is a sure winner. The problem is you need to keep changing your CPF.
Depends. HSBC provides 12month constant installments based on 1M SIBOR.
Depends. HSBC provides 12month constant installments based on 1M SIBOR.
Nice work by HSBC.
Rate Name Rate
1M SIBOR 0.31643
3M SIBOR 0.38214
3M SOR 0.34397
1M SOR 0.20457
Last updated on 27 Apr
Nice work by HSBC.
Goes to show how they also think interest rates wont move up in the next year or two
Goes to show how they also think interest rates wont move up in the next year or two
Exactly. Garmen also know. I hope my toto strike faster bcos I am interested in owning a high floor MM in CBD.
Exactly. Garmen also know. I hope my toto strike faster bcos I am interested in owning a high floor MM in CBD.
Skysuites @ Anson? Altez? Clift? Lumiere?
Skysuites @ Anson? Altez? Clift? Lumiere?
Either Altez or Clift.
If prices do come down. Haha.
Rate Name Rate
1M SIBOR 0.31984
3M SIBOR 0.38906
3M SOR 0.35349
1M SOR 0.22784
Last updated on 30 Apr
Skysuites @ Anson? Altez? Clift? Lumiere?
Aim for Clift...wakakaka!:D
Rate Name Rate
1M SIBOR 0.31984
3M SIBOR 0.38906
3M SOR 0.35349
1M SOR 0.22784
Last updated on 30 Apr
How come SIBOR rate exactly the same as 26 Apr ? So zhun ?
Rate Name Rate
1M SIBOR 0.31984
3M SIBOR 0.38906
3M SOR 0.37168
1M SOR 0.23856
Last updated on 2 May
Aim for Clift...wakakaka!:D
Clift studios are worth buying still for the rental yield and the low quantum imo.
Rate Name Rate
1M SIBOR 0.31984
3M SIBOR 0.38906
3M SOR 0.38843
1M SOR 0.24525
Last updated on 3 May
Rate Name Rate
1M SIBOR 0.31984
3M SIBOR 0.38906
3M SOR 0.38843
1M SOR 0.24525
Last updated on 3 May
seems like 3M SOR catching up with 3M SIBOR,
experts can advise, should i choose 3M SOR or 3M Sibor for home loan?
Rate Name Rate
1M SIBOR 0.32078
3M SIBOR 0.38906
3M SOR 0.40257
1M SOR 0.2522
Last updated on 4 May
seems like 3M SOR catching up with 3M SIBOR,
experts can advise, should i choose 3M SOR or 3M Sibor for home loan?
3M SOR is higher today. what do you want? hope that SOR goes lower or prefer SIBOR to continue being stable?
3M SOR is higher today. what do you want? hope that SOR goes lower or prefer SIBOR to continue being stable?
er... it is not what i want, i am hoping someone will enlighten what may be the the likely trend forward (sor or sibor higher/lower)...
I chose SIBOR, less volatile
I chose SIBOR, less volatile
last few days, i was thinking to take SOR, now i think i better stick to sibor :D
How come SIBOR rate exactly the same as 26 Apr ? So zhun ?
Good question. Based on this my guess is that SIBOR is set based on a averaging of the estimates of a panel of banks (like LIBOR). There is a brewing scandal about LIBOR manipulation, you can easily google the story.
er... it is not what i want, i am hoping someone will enlighten what may be the the likely trend forward (sor or sibor higher/lower)...
this can help
http://singaporesibor.com/sor-vs-sibor/3-month-sor-vs-3-month-sibor-chart/
Rate Name Rate
1M SIBOR 0.32469
3M SIBOR 0.38906
3M SOR 0.39649
Last updated on 7 May
Rate Name Rate
1M SIBOR 0.3175
3M SIBOR 0.38214
3M SOR 0.38466
Last updated on 8 May
Rate Name Rate
1M SIBOR 0.3175
3M SIBOR 0.38214
3M SOR 0.38464
Last updated on 9 May
Rate Name Rate
1M SIBOR 0.32078
3M SIBOR 0.38906
3M SOR 0.37744
Last updated on 10 May
Rate Name Rate
1M SIBOR 0.32078
3M SIBOR 0.38906
3M SOR 0.38584
Last updated on 11 May
Rate Name Rate
1M SIBOR 0.3175
3M SIBOR 0.38214
3M SOR 0.40118
Last updated on 14 May
last few days, i was thinking to take SOR, now i think i better stick to sibor :D
Yeah bro, with more folks taking up SIBOR than SOR, hope they dun anyhow raise SIBOR in lieu of the large customer base!
Rate Name Rate
1M SIBOR 0.32078
3M SIBOR 0.38906
3M SOR 0.39519
Last updated on 15 May
Rate Name Rate
1M SIBOR 0.32078
3M SIBOR 0.38906
3M SOR 0.39254
Last updated on 16 May
Rate Name Rate
1M SIBOR 0.32188
3M SIBOR 0.39042
3M SOR 0.42198
Last updated on 18 May
rattydrama
19-05-12, 19:07
Aim for Clift...wakakaka!:D
do you mean that you own cliff...!!lol
Rate Name Rate
1M SIBOR 0.32422
3M SIBOR 0.38656
3M SOR 0.4107
Last updated on 21 May
Rate Name Rate
1M SIBOR 0.32423
3M SIBOR 0.38656
3M SOR 0.41153
Last updated on 22 May
Rate Name Rate
1M SIBOR 0.32423
3M SIBOR 0.38656
3M SOR 0.4133
Last updated on 23 May
I have started a blog and you may visit SingaporeSIBOR.com to view latest SIBOR rates (http://SingaporeSIBOR.com), SIBOR historical charts (http://singaporesibor.com/singapore-sibor-history-chart/), or SIBOR vs SOR (http://singaporesibor.com/sibor-vs-sor/).
Any suggestion is welcomed to improve the blog.
You might want to know the big drop of 3M SOR today!!!! 20%!
1M SIBOR 0.31794
3M SIBOR 0.39714
3M SOR 0.30656
That is great news.
You might want to know the big drop of 3M SOR today!!!! 20%!
1M SIBOR 0.31794
3M SIBOR 0.39714
3M SOR 0.30656
Waiting for sibor to correct too.
1M SIBOR 0.31796
3M SIBOR 0.39571
3M SOR 0.21865
Last updated on 4 Jun
Will it go to negative again?
1M SIBOR 0.31796
3M SIBOR 0.39571
3M SOR 0.21865
Last updated on 4 Jun
1M SIBOR 0.31796
3M SIBOR 0.39571
3M SOR 0.21865
Last updated on 4 Jun
wah, change so fast. a few days back SOR >0.4 and I was afraid of going up. now drop?!:doh:
TS not providing updates anymore?
It's moved here (http://www.findahomeloan.sg/component/k2/item/133-latest-daily-sibor-and-sor-rates)
Central bank of Singapore in discussion to discontinue SIBOR. What will happen to those loans peg to it?
BIG TIME. will have to call my bank liaow.
Interest rates to 2.6%? like the HDB loans or more?
profits-no-enough!
Central bank of Singapore in discussion to discontinue SIBOR. What will happen to those loans peg to it?
Central bank of Singapore in discussion to discontinue SIBOR. What will happen to those loans peg to it?
I think the report mentioned US dollar based SIBOR, not SG dollar based.
Is there a link?
proud owner
18-02-13, 22:04
BIG TIME. will have to call my bank liaow.
Interest rates to 2.6%? like the HDB loans or more?
profits-no-enough!
found this online
http://www.housingloansingapore.com/sibor-rates-singapore-today-for-housing-loans
whoever wrote this really doesnt have the full understanding of SIBOR
the writer says when we talk about SIBOR we think about housing loans, etc ... about it being determined by ABS ...etc
only partly correct
SIBOR does not mean SGD loan
SIBOR = Singapore Interbank Offer Rate ..
it can be USD, SGD, JPY etc
just like LIBOR is not USD ... LIBOR can be GBP, USD, JPY ..etc
it merely refers to WHERE the rates are fixed
you can have Tibor too ...rates fixed in Tokyo ... be it USD JPY EUR
proud owner
18-02-13, 22:05
also
it is wrong to say SIBOR rate or SOR rate
when the R already mean Rate
SIBOR RATE = Singapore interbank offer rate rate ????
to say SIBOR rate is the same as to say Repeat Again
Pardon me, I found this and repost here:
http://sg.finance.yahoo.com/news/sin...075325412.html
Source: REUTERS
SINGAPORE, Feb 18 (Reuters) - Singapore's central bank is expected to scrap its U.S. dollar-linked interbank lending rate, according to a banker with knowledge of regulators' reviews into the setting of interest rates following the Libor rate rigging scandal.
The Monetary Authority of Singapore ordered members of the Association of Banks in Singapore in July to review how they set their benchmark interbank lending rates, focusing on the Singapore interbank offer rate (Sibor) and the Swap Offer Rate (SOR).
The order came after U.S. and UK authorities uncovered widespread manipulation of the London interbank lending rate (Libor).
The banker said, in a text message exchange with Reuters, that as a result of those reviews the abolition of the U.S. dollar Sibor was "likely".
The MAS provided no new comment on the matter when contacted by Reuters. In December, the regulator said the reviews were ongoing and it was premature to speculate on their outcomes.
U.S. dollar Sibor is a measure of the cost of borrowing U.S. dollars in the Singapore interbank market, and is used to price loans made by Singapore banks in U.S. dollars. Banks can use alternatives, like the U.S. dollar Libor rate.
The more significant market in Singapore is the Singapore dollar Sibor, which is used as the reference price for many commercial and home loans in the city-state.
The MAS probe was extended in late September when the regulator said banks must also look at how rates for non-deliverable foreign exchange forwards are set.
Reuters reported last month that bank reviews found that NDF rates had been manipulated as well.
Singapore's probe was similar to those launched by other regulators across the globe following last year's Libor scandal, when U.S. and UK authorities unveiled widespread rigging of the London interbank rate, a benchmark used to price more than $500 trillion worth of contracts from derivatives to mortgage rates to credit cards.
U.S. and UK regulators have fined three banks to date - RBS, Barclays and UBS - a total of $2.6 billion for allowing traders to manipulate Libor interbank rates.
Bloomberg reported earlier on Monday that Singapore's central bank was considering ending the city-state's U.S. dollar-linked interbank lending rate. Citing an anonymous source, the report said members of the Singapore Foreign Exchange Market Committee in a Jan. 22 meeting examined the proposal during a discussion of MAS's review of benchmark rates.
The group may instead use the U.S. dollar London interbank offered rate, the article said, with changes expected by June.
Thomson Reuters, parent company of Reuters News, acts as the agent for the Association of Banks in Singapore, collecting and calculating the rates. (Reporting by Rachel Armstrong; Additional reporting by Elzio Barreto and Kevin Lim; Editing by Michael Flaherty and Simon Cameron-Moore)
also
it is wrong to say SIBOR rate or SOR rate
when the R already mean Rate
SIBOR RATE = Singapore interbank offer rate rate ????
to say SIBOR rate is the same as to say Repeat Again
relinked
http://sg.finance.yahoo.com/news/singapore-may-scrap-u-dollar-075325412.html
proud owner
18-02-13, 22:45
relinked
http://sg.finance.yahoo.com/news/singapore-may-scrap-u-dollar-075325412.html
what it says it that MAS is considering removing USD rates from its daily SIBOR fixing
if true ... no effect of SGD lending rates ... or mortgage rate pegged to SIBOR
but by removing USD ... banks who use the SIBOR USD to determine the SOR will have problem ...
banks will use whatever USD funding rate instead of USD from sibor ..
so if any effect ..mortgage pegged to SOR MAY be affected
http://www.findahomeloan.sg/component/k2/item/372-mas-reportedly-in-discussions-to-discontinue-sibor
Monday, 18 February 2013 23:59
MAS reportedly in discussions to discontinue SIBOR
SINGAPORE: Reports say Singapore's central bank is in discussions to discontinue the Singapore Interbank Offered Rate (SIBOR).
The Monetary Authority of Singapore (MAS) launched a review of the SIBOR last July after abuses related to the London Interbank Offered Rate (LIBOR) surfaced.
A few months later, it broadened investigations to include some exchange rates set in the city.
Analysts say getting rid of SIBOR would force banks in Singapore to renegotiate outstanding loans, which could potentially hit earnings.
SIBOR is used as a basis for the pricing of all loans in Singapore, ranging from business loans to mortgages.
what it says it that MAS is considering removing USD rates from its daily SIBOR fixing
if true ... no effect of SGD lending rates ... or mortgage rate pegged to SIBOR
but by removing USD ... banks who use the SIBOR USD to determine the SOR will have problem ...
banks will use whatever USD funding rate instead of USD from sibor ..
so if any effect ..mortgage pegged to SOR MAY be affected
agree with your thoughts.. although the CNA article didnt specify USD SIBOR.
Central bank of Singapore in discussion to discontinue SIBOR. What will happen to those loans peg to it?
I believe the are talking about usd sibor not sgd sibor
What's going to happen to SOR?:confused:
i think it's referring to these findings..
Bank probes find manipulation in Singapore's offshore forex market: Source - The Economic Times http://economictimes.indiatimes.com/news/international-business/bank-probes-find-manipulation-in-singapores-offshore-forex-market-source/articleshow/18215714.cms
proud owner
18-02-13, 23:16
I believe the are talking about usd sibor not sgd sibor
i dont think MAS will abolish SIBOR completely but merely remove USD from the fixing in SIBOR thats all
cannot remove SIBOR cos alot alot of loans corp loans ...short to long term all based on SIBOR fixing ...
will have huge impact on the whole financial market if sibor is removed totally ..
dont think MAS will create a turmoil in spore mkt
They are talking about Non Deliverable Forward for USD which might affect SOR.:scared-1:
proud owner
18-02-13, 23:33
They are talking about Non Deliverable Forward for USD which might affect SOR.:scared-1:
no lah bro (or sis)
NDF is FX not interest rate ...
it has ntg to do with SIBOR
what happened was that when MAS asked banks in spore to investigate how they did they SIBOR fixing ... they extended the investigation to NDFs...where banks also fix the FX rates at 11 am spore time ...
what they found was that some banks ganged up and manipulated on the FX fixing rates for NDF...
anyway the last part of the article says to use USD from LIBOR fixing ..
thats a stupid suggestion too ,...
first of all LIBOR is fixed in london hour ...
when spore needs to use the usd rate ..do they wait till 7pm spore time (london 11 am) to determine the USD rate ?
or do they use the usd from LIBOR fixed the day before ?
the whole purpose of these X-ibor is that at 11 am ..at that centre ... most banks would be able to borrow at or are willing to lend at such a rate ..
and it would be 2 working day from the day its fixed ..
thats why i think its silly to use usd from Libor ..if the scrap usd for SIBOR ...
anyway SOR is determined using the SGD fx rate with SGD forward rates
using the SGD swap formula ... it will vary from bank to bank due to different usd funding cost ...
if there was a SIBOR usd ...the SOR will be pretty much the same for all banks
now if USD is removed from SIBOR ..then SOR will vary much bigger
bank will difficulty funding usd ...their SOR will be higher ...
no lah bro (or sis)
NDF is FX not interest rate ...
it has ntg to do with SIBOR
if there was a SIBOR usd ...the SOR will be pretty much the same for all banks
now if USD is removed from SIBOR ..then SOR will vary much bigger
bank will difficulty funding usd ...their SOR will be higher ...
Bro, isn't that what I am saying ...SOR will be affected!:doh:
proud owner
18-02-13, 23:51
Bro, isn't that what I am saying ...SOR will be affected!:doh:
yes you are right that SOR will be affected
but not becos of NDF
SOR is the point of contention, since a couple of banks are being investigated for manipulating the rate allegedly
someone (or bank) is gotta get screwed real big time, if the amount of fine in UK is the benchmark to go by
frankly, setting a higher interest rate if the correct way to cool down the market.
If this goes through, property price sure crash.
I really hope it can go through. The prices today is really not very healthy...
frankly, setting a higher interest rate if the correct way to cool down the market.
If this goes through, property price sure crash.
I really hope it can go through. The prices today is really not very healthy...
The interest rate in Singapore is ridiculous in the first place. Even Malaysia rate is well over 6%. The 1%+ rates in Singapore is definitely not natural.
The interest rate in Singapore is ridiculous in the first place. Even Malaysia rate is well over 6%. The 1%+ rates in Singapore is definitely not natural.
Hong Kong housing loan is also slightly above 1%.....
interest rate not only affect mortgage but also overall economic activities. it might deter property activities but, a lot of other activites will also be impacted. in the end, maybe more negative than positive...
look at australia, mortgage rate is about 5-6% or more, u think the price drop??
look at japan, near to zero, u think the price has really grow a lot??
and look at US, the FED has kept the interest rate near zero and what we see today is only slow recovery in housing.
anyway, just to say that interest rate might not have a linear impact on property price.
:2cents:
frankly, setting a higher interest rate if the correct way to cool down the market.
If this goes through, property price sure crash.
I really hope it can go through. The prices today is really not very healthy...
I understand some bears want interest to go up because they have lots of cash earning nothing & they MTB waiting to buy back cheap after selling out.
interest rate not only affect mortgage but also overall economic activities. it might deter property activities but, a lot of other activites will also be impacted. in the end, maybe more negative than positive...
look at australia, mortgage rate is about 5-6% or more, u think the price drop??
look at japan, near to zero, u think the price has really grow a lot??
and look at US, the FED has kept the interest rate near zero and what we see today is only slow recovery in housing.
anyway, just to say that interest rate might not have a linear impact on property price.
:2cents:
frankly, setting a higher interest rate if the correct way to cool down the market.
If this goes through, property price sure crash.
I really hope it can go through. The prices today is really not very healthy...
well, let me paint alternative scenarios. for that, please keep in mind that SG's GDP is intricately intertwined with its land & property prices
Scenario 1: Assuming land costs remain constant
Interest rate hike - Cost of borrowing goes up
Developers jack up selling price to maintain margin
Cash-strapped developers go bust, consolidation within property industry
Interest rate hike - commoners start putting monies into savings account
Banks slushed with funds, under pressure to generate higher returns
SG Bonds under pressure to provide better returns
Monies flow into alternative investment vehicles - commodities, equities and you name it, properties
Scenario 2:
Interest rate hike - Hot money flows into Singapore
SG Bonds under pressure to deliver better returns
Inflation spikes further
Political costs to artificial manipulation of rates - flight of MNCs to foreign shores, loss of votes, deeping rich-poor divide
Scenario 3:
Interest rate hike - property crash
GDP crash, national budget deficit
Growing number of foreclosures, bankruptcies, suicides
Property and construction industry tanks, number of jobs hit
Deflation sinks in, dark age era like Japan
Certainly we can go on and on with more postulations, but the point is there are implications of unilaterally fixing interest rates. Should be left to market forces
Hong Kong housing loan is also slightly above 1%.....
HK mortgage rate is about 2.5-3%?
http://www.property.hk/eng/mortgage_rate.php
Certainly we can go on and on with more postulations, but the point is there are implications of unilaterally fixing interest rates. Should be left to market forces
That's what this big woohaa is all about. i.e. whether the banks are colluding to fix rates and not the market.
That's what this big woohaa is all about. i.e. whether the banks are colluding to fix rates and not the market.
Yeah. How come BOC giving ~1.2% for 12M deposit when their sibor mortgage is even lesser as Sibor+.6% :eek:
http://www.bankofchina.com/sg/bocinfo/bi2/201212/t20121228_2109748.html
proud owner
20-02-13, 22:07
Yeah. How come BOC giving ~1.2% for 12M deposit when their sibor mortgage is even lesser as Sibor+.6% :eek:
http://www.bankofchina.com/sg/bocinfo/bi2/201212/t20121228_2109748.html
what is 12m SGD Sibor ?
if 12mth Sibor + 0.6 is < 1.2 %
it only means they have special needs for funds for this coming 12 mths ..
its managing their books ..
This is ocbc sor
http://sphotos-a.ak.fbcdn.net/hphotos-ak-ash3/857250_10152587481600244_893882247_o.jpg
1M SOR
http://img641.imageshack.us/img641/4044/uobp.jpg
1M SOR
http://img641.imageshack.us/img641/4044/uobp.jpg
What's the spread on your loan?
What's the spread on your loan?
dont be lazy
find out the 3M SOR rate on 24 Nov, and/or 24 Feb.
the difference is the spread.
dont be lazy
find out the 3M SOR rate on 24 Nov, and/or 24 Feb.
the difference is the spread.
this loan of mine is on 1M SOR. Spread at the moment is 0.75%, and it will increase to 1% for the 4th and subsequent years..
Now I am wondering by then (if assuming SOR is still low) will it be better to just keep the loan running at 1%+1mSOR or ask for repricing (which I presume will be non SOR)
this loan of mine is on 1M SOR. Spread at the moment is 0.75%, and it will increase to 1% for the 4th and subsequent years..
Now I am wondering by then (if assuming SOR is still low) will it be better to just keep the loan running at 1%+1mSOR or ask for repricing (which I presume will be non SOR)
when interest rates are falling, i would put in 1year FD, instead of 1 month FD.
when interest rates are rising, i would put in 1 month FD instead of 1 year FD.
similarly for mortgages, rates will rise. i would put in a 3M,6M or even 12M sor/sibor rate, not 1M.
you need to see the average difference between 3M, 6M, and 12M.
this you must ask AMK or whoever with access to 1M, 3M, 6M, 12M SOR/SIBOR.
for example if 3M and 12M difference is 0.2%, I would use 12M rate because i expect interest rate to increase around 1% per year.:2cents:
when interest rates are falling, i would put in 1year FD, instead of 1 month FD.
when interest rates are rising, i would put in 1 month FD instead of 1 year FD.
similarly for mortgages, rates will rise. i would put in a 3M,6M or even 12M sor/sibor rate, not 1M.
you need to see the average difference between 3M, 6M, and 12M.
this you must ask AMK or whoever with access to 1M, 3M, 6M, 12M SOR/SIBOR.
for example if 3M and 12M difference is 0.2%, I would use 12M rate because i expect interest rate to increase around 1% per year.:2cents:
Bank doesn't allow you to switch as and when you want and also no one can predict what the future hold as well.
Bank doesn't allow you to switch as and when you want and also no one can predict what the future hold as well.
Citi allows, subject to their terms and conditions.
Citi allows, subject to their terms and conditions.
citi usually got many many terms and conditions.
citi usually got many many terms and conditions.
At least they still allow you to switch to 1/3/6/12...and unlimited too.
3 mth SOR has been going up 0.01 since 1 April at 0.21..
flagship74
07-04-13, 11:16
3 mth SOR has been going up 0.01 since 1 April at 0.21..
That's peanut:cheers1:
0.01 per day. Small to you but it is still money..
That's peanut:cheers1:
SOR has gone up and SIBOR has come down.
SIBOR Rates – 10 April 2013 (http://www.siborratesingapore.com/sibor-rates-10-april-2013)
SIBORSOR1 Month0.305830.205312 Month0.357830.247563 Month0.371670.281046 Month0.435830.407489 Month0.500000.5435812 Month0.561250.67754
SOR has gone up and SIBOR has come down.
SIBOR Rates – 10 April 2013 (http://www.siborratesingapore.com/sibor-rates-10-april-2013)
SIBORSOR1 Month0.305830.205312 Month0.357830.247563 Month0.371670.281046 Month0.435830.407489 Month0.500000.5435812 Month0.561250.67754
this was before yesterday Ben announcement. I presume.
when interest rates are falling, i would put in 1year FD, instead of 1 month FD.
when interest rates are rising, i would put in 1 month FD instead of 1 year FD.
similarly for mortgages, rates will rise. i would put in a 3M,6M or even 12M sor/sibor rate, not 1M.
you need to see the average difference between 3M, 6M, and 12M.
this you must ask AMK or whoever with access to 1M, 3M, 6M, 12M SOR/SIBOR.
for example if 3M and 12M difference is 0.2%, I would use 12M rate because i expect interest rate to increase around 1% per year.:2cents:
isn't 5 year fixed rate only 2.5% (include spread)? your yield curve very steep to expect increase 1% per year... wow...
isn't 5 year fixed rate only 2.5% (include spread)? your yield curve very steep to expect increase 1% per year... wow...
dont listen to me, i am a pessimist, read too much TEOTWAWKI.
but he who panic first panic bestest:ashamed1:.
dont listen to me, i am a pessimist, read too much TEOTWAWKI.
but he who panic first panic bestest:ashamed1:.
ohh... "hopeful" = pessimist... lol.
3 mth SOR has gone up till 0.26xx in less than 2 weeks from 0.20.
starrynight
13-05-13, 10:14
Proposal re LIBOR:
LONDON: A dual-track system combining survey-based rates and objective data is set to replace key global interest rate Libor, the Financial Times reported on Monday.
Martin Wheatley, the British regulator leading attempts to reform the scandal-hit interest rate system, told the FT that the new scheme would protect those with products already tied into the existing system.
"You can't just say: 'Forget about yesterday's problems, we'll just move to the future'," he said.
"If you change the definition, it's almost certain that one side of every one of those trades would lose out and then would say: 'We're no longer bound by this'," he added.
Barclays, Royal Bank of Scotland and UBS have paid over $2 billion to settle allegations they manipulated Libor to their advantage or hide their financial strains during the 2008 credit crunch.
Libor, or London Interbank Offered Rate, is a flagship instrument used all over the world, affecting what banks, businesses and individuals pay to borrow money.
Libor is calculated daily, using estimates from banks of their own interbank rates, and affects the pricing of more than $300 trillion of contracts across the world, according to regulators.
- AFP/xq
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