While the aforementioned problems are not only in the Asian syndicated lending market, Asia has only slowly developed market practices for these issues relative to the rest of the world. With the recent release of the facilities agreements, the Asian syndicated credit market is expected to quickly catch up with the LibOR Transition Highway. Advice to market participants who are considering entering into business with their Asian counterparts – close up! The facility agreements show the main design concepts and elements and calculation methods needed to move from IBOR referencing to a relevant RFR. APLMA does not recommend and support a specific pricing or calculation method and finds that facility agreements are not a standard position on these issues due to the lack of market practices. Banks should stop abandoning new LIBOR-related products that mature after 2021. Each draft facility agreement uses a different method to calculate the secure financing rate, or SOFR, which is rFR for the U.S. dollar: SOFR daily compound and SOFR simpler every day. The Hong Kong Monetary Authority, in agreement with the Treasury Markets Association, defined the following steps for Hong Kong banks: In the guide accompanying the facilities agreements, APLMA highlighted the main issues that market participants must consider with regard to the transition from LIBOR to RFR: banks should be able to offer products related to the corresponding RFR to LIBOR repository  of the relevant repository  of the relevant repository  of the repository interest rates. Hong Kong Monetary Authority, November 13, 2020 APLMA welcomes comments and comments on facility agreements by December 4, 2020. Based on these comments, APLMA intends to provide recommended submission forms as soon as possible. This will greatly help institutions achieve the various transitional IBOR objectives set by regulators. Appropriate recidivism provisions should be included in all newly issued libor contracts that expire after 2021 (given the entry into force of the ISDA case case protocol on case handling as part of IRB treatment, this transitional kilometre for derivative contracts can be achieved by the end of January 2021).