Euro Overnight Index Average and Exit day: Difference between pages

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1. EONIA:
''UK - European Union - Brexit.''
 
* 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).  
The UK's exit day from the European Union was 31 January 2020.


* It is reported on an act/360 day count convention and is displayed to three decimal places.
This was the date on which the legal changes for the UK to leave the European Union took effect, subject to a transition period that ended on 31 December 2020.


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


(Distinguish from EURONIA - defined below.)
On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement agreement that applied from 1 January 2021.


The EU-UK Trade and Cooperation Agreement entered into force on 1 May 2021.


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.
== See also ==
* [[Article 50]]
* [[Brexit]]
* [[Brexit Day]]
* [[Brexit transition period]]
* [[Brexodus]]
* [[EU 27]]
* [[European Commission]]
* [[European Union]]
* [[European Union (Withdrawal Agreement) Act 2020]]
* [[EU-UK Trade and Cooperation Agreement]]
* [[Free trade agreement]]
* [[IP completion day]]
* [[Make UK]]
* [[No Brexit]]
* [[No Deal]]
* [[Parliamentary supremacy]]
* [[Ratification]]
* [[Sovereignty]]
* [[United Kingdom]]


(Distinguish from EONIA - defined above.)


== Other resource==


== See also ==
*[https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-7960 Brexit timeline - House of Commons Library]
* [[CET]]
 
* [[SONIA]]
[[Category:Accounting,_tax_and_regulation]]
* [[Sterling overnight index average]]
[[Category:The_business_context]]

Latest revision as of 19:42, 26 February 2023

UK - European Union - Brexit.

The UK's exit day from the European Union was 31 January 2020.

This was the date on which the legal changes for the UK to leave the European Union took effect, subject to a transition period that ended on 31 December 2020.


On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement agreement that applied from 1 January 2021.

The EU-UK Trade and Cooperation Agreement entered into force on 1 May 2021.


See also


Other resource

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