New York Funding Rate - Revision history

Doug: Layout.

2024-10-04T07:25:47Z

Layout.

← Older revision		Revision as of 07:25, 4 October 2024
Line 1:		Line 1:
	(NYFR).		(NYFR).

	An interest rate benchmark launched by ICAP (the inter-dealer broker) in 2008 to respond to concern about the accuracy of [[LIBOR]] at the time and to provide a rate relating to a time when the New York market was open. It was published in New York at about 10 am and based on rates submitted by contributing banks at around 9.15 am local time.		A former interest rate benchmark launched by ICAP (the inter-dealer broker) in 2008 to respond to concern about the accuracy of [[LIBOR]] at the time and to provide a rate relating to a time when the New York market was open. It was published in New York at about 10 am and based on rates submitted by contributing banks at around 9.15 am local time.

	Effectively a US domestic rate, in normal market circumstances arbitrage with the Euro-dollar market in London (still open in the New York morning) would be expected to minimise differences between the two markets - LIBOR rates being euro-currency rates.		Effectively a US domestic rate, in normal market circumstances arbitrage with the Euro-dollar market in London (still open in the New York morning) would be expected to minimise differences between the two markets - LIBOR rates being euro-currency rates.


	Publication ceased in 2012 as an insufficient number of banks were willing to contribute rates.		Publication ceased in 2012 as an insufficient number of banks were willing to contribute rates.
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	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
			[[Category:Financial_products_and_markets]]
	[[Category:The_business_context]]		[[Category:The_business_context]]
	~~[[Category:Financial_products_and_markets]]~~

imported>Doug Williamson: Remove superseded material.

2022-04-14T10:07:57Z

Remove superseded material.

← Older revision		Revision as of 10:07, 14 April 2022
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	Effectively a US domestic rate, in normal market circumstances arbitrage with the Euro-dollar market in London (still open in the New York morning) would be expected to minimise differences between the two markets - LIBOR rates being euro-currency rates.		Effectively a US domestic rate, in normal market circumstances arbitrage with the Euro-dollar market in London (still open in the New York morning) would be expected to minimise differences between the two markets - LIBOR rates being euro-currency rates.

	Publication ceased in 2012 ~~[[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]]~~ as an insufficient number of banks were willing to contribute rates.		Publication ceased in 2012 as an insufficient number of banks were willing to contribute rates.


	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[https://www.newyorkfed.org/medialibrary/media/research/economists/vickery/LiborKSV_staff_webpage.pdf]].		NYFR, while it was published, followed US dollar LIBOR very closely.


	~~''Note'':~~

	This paper refers to LIBOR as an offered rate whereas since 1998 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.


	==See also==		==See also==
	* [[LIBOR]]		* [[LIBOR]]

			[[Category:Accounting,_tax_and_regulation]]
			[[Category:The_business_context]]
			[[Category:Financial_products_and_markets]]

imported>Doug Williamson: Update for median historic dates.

2017-11-15T15:19:06Z

Update for median historic dates.

← Older revision		Revision as of 15:19, 15 November 2017
Line 1:		Line 1:
	(NYFR).		(NYFR).

	An interest rate benchmark launched by ICAP (the inter-dealer broker) in ~~June~~ 2008 to respond to concern about the accuracy of [[LIBOR]] at the time and to provide a rate relating to a time when the New York market was open. It was published in New York at about 10 am and based on rates submitted by contributing banks at around 9.15 am local time.		An interest rate benchmark launched by ICAP (the inter-dealer broker) in 2008 to respond to concern about the accuracy of [[LIBOR]] at the time and to provide a rate relating to a time when the New York market was open. It was published in New York at about 10 am and based on rates submitted by contributing banks at around 9.15 am local time.

	Effectively a US domestic rate, in normal market circumstances arbitrage with the Euro-dollar market in London (still open in the New York morning) would be expected to minimise differences between the two markets - LIBOR rates being euro-currency rates~~, of course~~.		Effectively a US domestic rate, in normal market circumstances arbitrage with the Euro-dollar market in London (still open in the New York morning) would be expected to minimise differences between the two markets - LIBOR rates being euro-currency rates.

	Publication ceased ~~on 9 July~~ 2012 [[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]] as an insufficient number of banks were willing to contribute rates.		Publication ceased in 2012 [[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]] as an insufficient number of banks were willing to contribute rates.

imported>Doug Williamson: Mended broken link.

2017-05-31T10:28:37Z

Mended broken link.

← Older revision		Revision as of 10:28, 31 May 2017
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	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[~~http~~://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]].		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[https://www.newyorkfed.org/medialibrary/media/research/economists/vickery/LiborKSV_staff_webpage.pdf]].

imported>Doug Williamson: Removed reference to date LIBOR/NYFR document accessed

2015-04-08T08:22:20Z

Removed reference to date LIBOR/NYFR document accessed

← Older revision		Revision as of 08:22, 8 April 2015
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	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]]~~, accessed 6 August 2014~~.		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]].

imported>Doug Williamson: Tidy up

2015-04-07T14:17:06Z

Tidy up

← Older revision		Revision as of 14:17, 7 April 2015
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	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.

	''Note'': This paper refers to LIBOR as an offered rate whereas since 1998 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.
			''Note'':

			This paper refers to LIBOR as an offered rate whereas since 1998 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.


	==See also==		==See also==
	* [[LIBOR]]		* [[LIBOR]]

imported>Doug Williamson: Extra space added to separate the definition from the reference

2015-01-09T12:47:25Z

Extra space added to separate the definition from the reference

← Older revision		Revision as of 12:47, 9 January 2015
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	Publication ceased on 9 July 2012 [[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]] as an insufficient number of banks were willing to contribute rates.		Publication ceased on 9 July 2012 [[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]] as an insufficient number of banks were willing to contribute rates.


	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.

imported>John Grout: change 1998 to 1998

2014-10-16T14:02:04Z

change 1998 to 1998

← Older revision		Revision as of 14:02, 16 October 2014
Line 9:		Line 9:
	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.

	''Note'': This paper refers to LIBOR as an offered rate whereas since ~~1988~~ contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.		''Note'': This paper refers to LIBOR as an offered rate whereas since 1998 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.


	==See also==		==See also==
	* [[LIBOR]]		* [[LIBOR]]

imported>Doug Williamson at 18:03, 13 August 2014

2014-08-13T18:03:54Z

← Older revision		Revision as of 18:03, 13 August 2014
Line 9:		Line 9:
	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.

	''Note'' This paper refers to LIBOR as an offered rate whereas since 1988 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.		''Note'': This paper refers to LIBOR as an offered rate whereas since 1988 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.


	==See also==		==See also==
	* [[LIBOR]]		* [[LIBOR]]

imported>Doug Williamson: Minor style changes

2014-08-13T18:03:34Z

Minor style changes

← Older revision		Revision as of 18:03, 13 August 2014
Line 7:		Line 7:
	Publication ceased on 9 July 2012 [[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]] as an insufficient number of banks were willing to contribute rates.		Publication ceased on 9 July 2012 [[http://in.reuters.com/article/2012/08/03/icap-nyfr-rates-idINL2E8J33FN20120803]] as an insufficient number of banks were willing to contribute rates.

	NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014. ''Note'' This paper refers to LIBOR as an offered rate whereas since 1988 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.		NYFR, while it was published, followed US dollar LIBOR very closely. A comparison of LIBOR and NYFR can be found in ''A comparison of Libor to other measures of bank borrowing costs'', Kuo et al., [[http://www.newyorkfed.org/research/economists/vickery/LiborKSV_staff_webpage.pdf]], accessed 6 August 2014.

			''Note'' This paper refers to LIBOR as an offered rate whereas since 1988 contributions are of rates at which the contributing bank would expect to be able to fund by "by asking for and then accepting inter-bank offers", and this is thus not an "offered rate" as such.


	==See also==		==See also==

	* [[LIBOR]]		* [[LIBOR]]