Hong Kong seeks European equivalence for Hibor and Honia

For the territory’s crucial renminbi fixings, however, no path to approval has yet been decided

Hong-Kong-EU-equivalence

The Hong Kong Monetary Authority (HKMA) is going the equivalence route to get approval for its two local interest rates from European benchmark regulators, but for the territory’s all-important renminbi fixings, no clear path has been charted yet.

Hong Kong is following Asian neighbours like Australia, Japan, Singapore and South Korea in seeking equivalence for its local rates, the Hong Kong Interbank Offered Rate (Hibor) and the HKD Overnight Index Average (Honia), from European benchmark

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