Eonia
Encyclopedia
Interbank market
The interbank market is the top-level foreign exchange market where banks exchange different currencies. The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services and Thomson Reuters Dealing 3000 Xtra are the two competitors in...
. It has been initiated within the euro area by the contributing panel banks.
It is one of the two benchmarks for the money and capital markets in the euro zone (the other one being Euribor
Euribor
The Euro Interbank Offered Rate is a daily reference rate based on the averaged interest rates at which Eurozone banks offer to lend unsecured funds to other banks in the euro wholesale money market .-Scope:...
). The banks contributing to Eonia are the same as the Panel Banks quoting for Euribor.
Eonia reference rates are calculated by the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
, based on all overnight interbank assets created before the close of RTGS
Real Time Gross Settlement
Real time gross settlement systems are funds transfer systems where transfer of money or securities takes place from one bank to another on a "real time" and on "gross" basis. Settlement in "real time" means payment transaction is not subjected to any waiting period. The transactions are settled...
systems at 6pm CET
Central European Time
Central European Time , used in most parts of the European Union, is a standard time that is 1 hour ahead of Coordinated Universal Time . The time offset from UTC can be written as +01:00...
, and published through Thomson Reuters
Thomson Reuters
Thomson Reuters Corporation is a provider of information for the world's businesses and professionals and is created by the Thomson Corporation's purchase of Reuters Group on 17 April 2008. Thomson Reuters is headquartered at 3 Times Square, New York City, USA...
every day before 7pm CET. It could be found under the ISIN
ISIN
An International Securities Identification Number uniquely identifies a security. Its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper, equities and warrants...
identifier EU0009659945.
See also
- European Banking FederationEuropean Banking FederationThe European Banking Federation is an organization of the European banking sector, representing interest of over 5000 European banks in 31 countries with combined assets of over 30,000 billion Euro and around 2.4 million employees...
- Federal funds rateFederal funds rateIn the United States, the federal funds rate is the interest rate at which depository institutions actively trade balances held at the Federal Reserve, called federal funds, with each other, usually overnight, on an uncollateralized basis. Institutions with surplus balances in their accounts lend...
- Interbank lending marketInterbank lending marketThe interbank lending market is a market in which banks extend loans to one another for a specified term. Most interbank loans are for maturities of one week or less, the majority being overnight. Such loans are made at the interbank rate...
- Mutan rateMutan rateThe Mutan interest rate is the Uncollateralised Overnight Call Rate in Japan. It is the reference rate for JPY overnight unsecured transactions in the Japanese market....
- SARONSARONSARON is an overnight interest rates average referencing the Swiss Franc interbank repo market. It was launched by the Swiss National Bank in cooperation with SIX Swiss Exchange. Since 25 August 2009, SARON has replaced the previously used repo overnight index...
- SONIASONIASONIA is the acronym for Sterling OverNight Index Average, the reference rate for overnight unsecured transactions in the Sterling market...