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LIBOR Interest Rate Benchmark Reform December 02, 2021

Please be advised that on March 5, 2021, the U.K.'s Financial Conduct Authority (FCA) formally announced London Inter-Bank Offered Rate (LIBOR) cessation dates.

Hereby we notify dates for the cessation of LIBOR publication on USD, and the alternative rate that will be chosen by the Bank.

LIBOR Transition in Hana Bank

Currently, PT Bank KEB Hana Indonesia (Hana Bank) has collaborated with local authorities and industry players to prepare for the transition period for the LIBOR Discontinuity and has begun contacting relevant customers to provide a smooth transition process.

Important Things to Notify by Customers

This change in the LIBOR benchmark interest rate will have an impact on the calculation of customer interest at PT Bank KEB Hana Indonesia (Hana Bank), including short-term loan facilities, long-term loans, several investment products and derivatives. Customers with LIBOR exposure past the date of termination of LIBOR publication as determined by the FCA, will be affected by the permanent termination of LIBOR and must choose a transitional approach that suits the Client's needs.

If you have any questions regarding your facilities or other financial instruments that use LIBOR as the benchmark interest rate, you can contact your Relationship Manager to get the latest information regarding the follow-up to your facilities or other financial instruments that will be affected by the termination of LIBOR publication.

 

DISCLAIMER

The information on this website, is intended to provide general information and does not constitute legal, commercial and/or professional advice so that it cannot be used as a basis for conducting transactions.

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