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New loan, derivative offerings in first half as Bangkok Interbank debuts.

Bangkok Post (Bangkok, Thailand)

| January 05, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Darana Chudasri

Jan. 5--Lending and derivative products based on a new short-term interest rate benchmark are expected to be offered in the first half of the year after the official launch of the Bangkok Interbank Offered Rate (Bibor).

Bibor, introduced by the Bank of Thailand yesterday, is a series of short-term reference rates quoted from one week to one year, at which banks can borrow funds from other banks in the Bangkok interbank market.

The rate was first proposed in the mid-1990s as an alternative to the Sibor and Libor rates in Singapore and London, but plans were shelved after the economic crisis began in 1997.

...

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