SONIA: Difference between revisions

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(Update for Slaughter and May's guidance Jan-Feb 2018.)
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''Interest rate benchmarks''.
Sterling Overnight Index Average.   
Sterling Overnight Index Average.   


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It is published by WMBA Ltd (part of the European Venues and Intermediaries Association - EVIA) in London at 5pm each day.
It is defined and calculated as the weighted average rate (to four decimal places) of all unsecured sterling overnight cash transactions brokered in London by EVIA* member firms between midnight and 4.15pm London time with all counterparties in a minimum deal size of £25 million.
 
 
It is defined and calculated as the weighted average rate (to four decimal places) of all unsecured sterling overnight cash transactions brokered in London by EVIA member firms between midnight and 4.15pm London time with all counterparties in a minimum deal size of £25 million.




The Bank of England will become the administrator of a revised SONIA with effect from 23 April 2018.
The Bank of England assumed responsibility as the administrator of a revised SONIA with effect from April 2018.


Among other changes, SONIA will be broadened to include overnight unsecured transactions negotiated bilaterally, as well as those arranged via brokers.
Among other changes, SONIA was broadened to include overnight unsecured transactions negotiated bilaterally, as well as those arranged via brokers.




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* [[Euro Overnight Index Average ]]
* [[Euro Overnight Index Average ]]
* [[EURONIA]]
* [[EURONIA]]
* [[European Venues and Intermediaries Association]]
* [[European Venues and Intermediaries Association]] (EVIA)
* [[Financial Stability Board]]
* [[HONIA]]
* [[Interest determination date]]
* [[LIBOR]]
* [[LIBOR]]
* [[Over night index average rate]]
* [[Over night index average rate]]
* [[Overnight indexed swap]]
* [[Overnight indexed swap]]
* [[RFR WG]]
* [[Risk-free rates]]
* [[SARON]]
* [[SARON]]
* [[SOFR]]
* [[Sterling overnight index average]]
* [[Sterling overnight index average]]
* [[TONAR]]
* [[TONAR]]
* [[Transition risk]]
* [[Working Group on Sterling Risk-Free Reference Rates]]


==Other links==


*[https://www.bankofengland.co.uk/markets/transition-to-sterling-risk-free-rates-from-libor/working-group-on-sterling-risk-free-reference-rates Working Group of Sterling Risk-Free Reference Rates - latest announcements & publications]


===Other links===
*[https://www.treasurers.org/hub/technical/practical-guide-libor A Practical Guide to LIBOR transition - Slaughter & May - Association of Corporate Treasurers]


[[Media:Slaughter and May interest rate benchmarks.pdf| 2021: A Benchmark Odyssey, Practical Guidance for Treasurers on interest rate benchmarks, Slaughter and May]]
*[https://www.bankofengland.co.uk/markets/sonia-benchmark SONIA and other benchmarks]


[[Media:The_Treasurer_-_LIBOR_-_Goodbye_to_all_that.pdf| LIBOR: Goodbye to all that, The Treasurer]]
*[https://www.newyorkfed.org/medialibrary/Microsites/arrc/files/2018/ARRC-Second-report ARRC: Second Report]


[http://www.bankofengland.co.uk/markets/benchmarks Bank of England: SONIA and other benchmarks]
*[https://www.evia.org.uk/ European Venues and Intermediaries Association - EVIA]


[https://www.evia.org.uk/ European Venues and Intermediaries Association - EVIA]
[[Category:Corporate_financial_management]]

Latest revision as of 14:55, 27 September 2023

Interest rate benchmarks.

Sterling Overnight Index Average.


Tracks actual average market sterling funding rates each day:

  • for settlement that day
  • where repayment is made on the following business day.


It is defined and calculated as the weighted average rate (to four decimal places) of all unsecured sterling overnight cash transactions brokered in London by EVIA* member firms between midnight and 4.15pm London time with all counterparties in a minimum deal size of £25 million.


The Bank of England assumed responsibility as the administrator of a revised SONIA with effect from April 2018.

Among other changes, SONIA was broadened to include overnight unsecured transactions negotiated bilaterally, as well as those arranged via brokers.


See also


Other links