SONIA: Difference between revisions

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imported>Doug Williamson
(Update for 23 April transition of responsibility as administrator to Bank of England.)
imported>Doug Williamson
(Update following B of E's taking responsibility as administrator & changes to calculation method.)
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The Bank of England has assumed responsibility as 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 has been 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.





Revision as of 10:35, 5 June 2018

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 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.


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

2021: A Benchmark Odyssey, Practical Guidance for Treasurers on interest rate benchmarks, Slaughter and May

LIBOR: Goodbye to all that, The Treasurer

Bank of England: SONIA and other benchmarks

European Venues and Intermediaries Association - EVIA