TONA

Tokyo Overnight Average rate.

TONA is a potential risk-free rate substitute for JPY LIBOR in contracts which reference JPY LIBOR.

TONA is also sometimes written as TONAR, the R being for 'rate'.

See also

• Benchmark
• Euro Overnight Index Average
• EURONIA
• Japan
• JPY
• LIBOR
• Over night index average rate
• Risk-free rates
• SARON
• SONIA
• Sterling overnight index average
• TIBOR
• Tokyo Overnight Average Rate