The banks want the swaps to reference the newly-proposed secured overnight rupee rate (SORR) instead of the prevailing Mumbai interbank outright rate (MIBOR), sources said, asking not to be named as discussions are private. The move is intended to improve price discovery in the interest-rate swap market, an opaque but important part of the financial system that helps banks and corporations manage their risks.
This story is from the December 24, 2024 edition of Financial Express Bengaluru.
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This story is from the December 24, 2024 edition of Financial Express Bengaluru.
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