HIBOR

Hong Kong Inter-bank Offered Rate, (or HIBOR, Chinese: 香港銀行同業拆息 ), is the annualized rate
charged for inter-bank lending on Hong Kong Dollar (HKD) denominated instruments, for a specified
period ranging from overnight to one year. It is calculated daily at 11:00 a.m. local time based on quotations
from 20 banks designated by the Hong Kong Association of Banks (HKAB).

On 24 June 2013, an additional fixing was launched for off-shore Chinese renminbi (CNH), designated as
CNH HIBOR.[1][2]

Definition
In Hong Kong, HIBOR is officially called the "Hong Kong Dollar Interest Settlement Rates". It is defined
in the Guide to Hong Kong Monetary, Banking and Financial Terms as "The rate of interest offered on
Hong Kong dollar loans by banks in the interbank market for a specified period ranging from overnight to
one year."[3]

HIBOR is fixed by the Hong Kong Association of Banks (HKAB) by reference to market rates for HKD
deposits in the Hong Kong interbank market. These fixings are usually released on the website of the
HKAB each business day (excluding Saturdays) at 11:15 a.m., on the basis of quotations provided by 12 to
20 banks designated by the HKAB. HIBOR calculated by averaging the middle quotes after excluding the
highest three quotes and lowest three quotes received from the reference banks.[4]

See also
Interbank lending market
LIBOR

References
1. "CNH HIBOR fixing" (http://www.hkma.gov.hk/eng/key-information/press-releases/2013/201
30425-3.shtml). Hong Kong Monetary Authority. 25 April 2013. Retrieved 6 June 2015.
2. "Launch of CNH HIBOR fixing" (http://www.hkma.gov.hk/eng/key-information/press-releases/
2013/20130620-4.shtml). Hong Kong Monetary Authority. 20 June 2013. Retrieved 6 June
2015.
3. "Hong Kong Monetary Authority - Guide to Hong Kong Monetary, Banking and Financial
Terms" (https://www.hkma.gov.hk/eng/data-publications-and-research/guide-to-monetary-ba
nking-and-financial-terms/hibor/).
4. "Web Table" (https://www.censtatd.gov.hk/en/web_table.html?id=123).

External links
港元利息結算利率 (http://www.hkab.org.hk/hibor/listRates.do?lang=b5)
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