BNM seeks feedback on Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRR

21 May 2021

Bank Negara Malaysia, in consultation with the Financial Markets Committee, is seeking feedback on a discussion paper, Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRR for the Malaysian Financial Markets, issued on 19 May 2021.

The discussion paper, inter alia, sets out:

the proposed design and features pertaining to the development of an Alternative Reference Rate (ARR);

the potential enhancements to the Kuala Lumpur Interbank Offered Rate (KLIBOR); and

a review of the Kuala Lumpur Islamic Reference Rate (KLIRR), including the potential discontinuation thereof.

The deadline for providing written feedback is 18 June 2021.