Euro Overnight Index Average: Difference between revisions

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1. EONIA. 
1. EONIA:
This Euro overnight index average is sponsored by the European Banking Federation and the ACI The Financial Markets Association.  
 
Abbreviation for the discontinued Euro OverNight Index Average interest rate, formerly sponsored by the European Money Markets Institute (EMMI).


It is calculated by the European Central Bank at 7 pm (CET) as a weighted average of all overnight unsecured lending transactions in the interbank market, initiated within the euro area by the same Panel Banks as used in EURIBOR calculations and carried out before the closing of real-time gross settlement (RTGS) systems at 6.00 pm (CET).  
EONIA was discontinued in January 2022.


It is reported on an act/360 day count convention and (since 2007) is displayed to three decimal places.
(Distinguish from EURONIA - defined below.)


EONIA is widely used as a reference rate for derivatives transactions within the euro-zone.


(Distinguish from EURONIA - defined below.)
2. EURONIA:
 
* This Euro overnight index average tracks actual average market euro funding rates each day for settlement that day where repayment is made on the following business day.  


2. EURONIA.
* It is published by WMBA Ltd (part of the European Venues and Intermediaries Association - EVIA) in London at 5.00 pm each day. It is the weighted average rate to four decimal places of all unsecured euro overnight cash transactions brokered in London by EVIA member firms between midnight and 4.00pm London time with all counterparties.
This Euro overnight index average tracks actual average market euro funding rates each day for settlement that day where repayment is made on the following business day.  


It is published by the Wholesale Market Brokers Association (WMBA) in London at 5 pm each day. It is the weighted average rate to four decimal places of all unsecured euro overnight cash transactions brokered in London by WMBA member firms between midnight and 4.00pm London time with all counterparties.
* EURONIA was formerly an interest benchmark, but was recategorised as an interest rate index in 2022.


(Distinguish from EONIA - defined above.)
(Distinguish from EONIA - defined above.)


== See also ==
== See also ==
* [[Benchmark]]
* [[CET]]
* [[EONIA]]
* [[EURONIA]]
* [[Interest rate index]]
* [[Panel bank]]
* [[SONIA]]
* [[SONIA]]
* [[Sterling overnight index average]]
* [[Sterling overnight index average]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Financial_products_and_markets]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:The_business_context]]

Latest revision as of 04:06, 8 February 2024

1. EONIA:

Abbreviation for the discontinued Euro OverNight Index Average interest rate, formerly sponsored by the European Money Markets Institute (EMMI).

EONIA was discontinued in January 2022.

(Distinguish from EURONIA - defined below.)


2. EURONIA:

  • This Euro overnight index average tracks actual average market euro funding rates each day for settlement that day where repayment is made on the following business day.
  • It is published by WMBA Ltd (part of the European Venues and Intermediaries Association - EVIA) in London at 5.00 pm each day. It is the weighted average rate to four decimal places of all unsecured euro overnight cash transactions brokered in London by EVIA member firms between midnight and 4.00pm London time with all counterparties.
  • EURONIA was formerly an interest benchmark, but was recategorised as an interest rate index in 2022.

(Distinguish from EONIA - defined above.)


See also

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