The HKMA published an update on benchmark reform and set out the steps it would take to monitor the progress of financial institutions preparing to migrate from IBORs to RFRs . The central bank plans to conduct a survey to gauge institutions ' exposure to risk and the progress made to prepare for the transition . Follow - up decisions will be determined by the survey results .
The HKMA published an update on benchmark reform and set out the steps it will take to monitor the progress of authorised institutions preparing to migrate from IBORs to RFRs. The central bank plans to conduct a survey to gauge institutions' exposure to IBORs and the progress made to prepare for the transition. Follow-up action will be determined by the survey results.