EONIA: Difference between revisions
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(Distinguish from EURONIA which is sponsored and published by the Wholesale Market Brokers' Association in London.) | (Distinguish from EURONIA which is sponsored and published by the Wholesale Market Brokers' Association in London.) | ||
== See also == | == See also == | ||
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* [[Overnight indexed swap]] | * [[Overnight indexed swap]] | ||
* [[Real-time gross settlement system]] | * [[Real-time gross settlement system]] | ||
Revision as of 15:18, 16 April 2014
This Euro OverNight Index Average (EONIA) is sponsored by the European Banking Federation and ACI The Financial Markets Association (formerly the Association Cambiste Internationale) and 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 (since 2007) is displayed to three decimal places.
EONIA is widely used as a reference rate for derivatives transactions within the euro-zone.
(Distinguish from EURONIA which is sponsored and published by the Wholesale Market Brokers' Association in London.)
