Asia risks falling behind on Libor transition, sources say
Regulators urged to take a more active role in steering buy-side firms to new benchmarks
Buy-side preparations for Libor’s widely anticipated demise are progressing at a snail’s pace in parts of Asia, due largely to inaction by local regulators, according to asset managers and banks in the region.
Asset managers in Hong Kong are “actually quite behind the curve”, says a senior Hong Kong-based executive at a US asset management firm, adding: “The regulators need to take a much more proactive approach.”
The same observations are made by four banks active in the region. They say they
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