Euro Overnight Index Average: Difference between revisions
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imported>Doug Williamson (Changed WMBA to EVIA.) |
imported>Doug Williamson (Link with CET page.) |
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== See also == | == See also == | ||
* [[CET]] | |||
* [[SONIA]] | * [[SONIA]] | ||
* [[Sterling overnight index average]] | * [[Sterling overnight index average]] | ||
Revision as of 19:01, 12 January 2018
1. EONIA:
- This Euro overnight index average is sponsored by the European Banking Federation and the ACI The Financial Markets Association.
- 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).
- It is reported on an act/360 day count convention and is displayed to three decimal places.
- 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.
- It is published by WMBA Ltd (part of the European Venues and Intermediaries Association - EVIA) 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 EVIA member firms between midnight and 4.00pm London time with all counterparties.
(Distinguish from EONIA - defined above.)
