Dollar Sibor May Be Dropped Amid Global Rate-Rigging Probe

Singapore’s central bank and a group of lenders are considering putting an end to the city-state’s U.S. dollar-linked interbank lending rate as regulators worldwide probe allegations of rigged benchmark borrowing costs, a person with knowledge of the matter said.

Members of the Singapore Foreign Exchange Market Committee examined the proposal in a Jan. 22 meeting, during a discussion of the Monetary Authority of Singapore’s review of benchmark rates, said the person, who asked not to be identified as the discussions are confidential. The group may instead use the U.S. dollar London interbank offered rate, the person said.