EONIA and Fraud: Difference between pages

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''Reference rates''.
''Law.''


Abbreviation for the discontinued Euro OverNight Index Average interest rate, formerly sponsored by the European Money Markets Institute (EMMI).
A criminally false representation by means of a statement or conduct made knowingly or recklessly in order to gain a material advantage, usually, but not necessarily, a financial advantage.  


For the period ending September 2019 it was calculated by the European Central Bank at 7.00 pm (CET) as a weighted average of all overnight unsecured lending transactions in the interbank market, and carried out before the closing of real-time gross settlement (RTGS) systems at 6.00 pm (CET).  
Financial frauds usually involve concealment as well as false representations.


It was reported on an act/360 day count convention and displayed to three decimal places.


EONIA was widely used as a reference rate for derivatives transactions within the euro-zone.
== See also ==
 
* [[CEO fraud]]
 
* [[Extrinsic evidence]]
In order to maintain EONIA for a transitional period and until its discontinuation on 3 January 2022, its methodology was changed.
* [[Forgery]]
* [[Fraudulent trading]]
* [[Segregation of duties]]
* [[Misrepresentation]]
* [[Serious Fraud Office ]]
* [[Software robot]]


With effect from 2 October 2019, EONIA was defined as €STR plus a spread of 0.085%.


===Other links===
[http://www.treasurers.org/node/9465 UK businesses fined over £166m for misconduct, Sally Percy, Oct 2013]


''Distinguish from EURONIA which is sponsored and published by WMBA Ltd in London.''
[[Category:Compliance_and_audit]]
 
[[Category:Financial_risk_management]]
 
[[Category:Risk_frameworks]]
== See also ==
* [[CET]]
* [[€STR]]
* [[EURIBOR]]
* [[EURONIA]]
* [[European Central Bank]]
* [[European Money Markets Institute]]
* [[GC repo]]
* [[Over night index average rate]]
* [[Overnight indexed swap]]
* [[Real-time gross settlement system]]
 
[[Category:Financial_products_and_markets]]

Revision as of 13:32, 17 May 2017

Law.

A criminally false representation by means of a statement or conduct made knowingly or recklessly in order to gain a material advantage, usually, but not necessarily, a financial advantage.

Financial frauds usually involve concealment as well as false representations.


See also


Other links

UK businesses fined over £166m for misconduct, Sally Percy, Oct 2013

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