Latest Hong Kong Dollar Interbank Rates: Most Tenors Declined
On February 4th, the Hong Kong Interbank Offered Rate (HIBOR/Settlement Rate) trend was generally weak, with multiple tenors experiencing varying degrees of decline.
1-Month Rate: Key Benchmark for Mortgage Pricing Falls Another Day
The 1-month rate, more closely related to mortgage loans, was reported at 2.49435%, falling by 2.559 basis points in a single day and has been declining for nine consecutive trading days.
Funding Costs: 3-Month Slightly Drops, Short-Term More Volatile
The 3-month rate, reflecting bank funding costs, was reported at 2.74179%, showing a slight decrease from the previous day. For short-term rates, the overnight rate was 1.78250% and the 1-week rate was 1.93060%, both decreased from previous values; the 2-week rate slightly rose to 2.39411%.
Long-term: 6-Month Adjusts Slightly, 1-Year Declines
The long-term rates remained relatively mild: the 6-month rate was 2.86851%, with little change; the 12-month (1-year) rate was 2.96530%, declining from the previous value.
Reference Explanation: How HIBOR is Formed
The Hong Kong Dollar HIBOR pricing is formed by quotations submitted by designated banks of the Hong Kong Association of Banks at fixed times, and it is widely used as a reference rate for Hong Kong dollar loans, mortgages, and derivatives.
