EONIA

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The EONIA ( Euro Overnight Index Average ) is the rate at which on the interbank market in the euro area un -backed -day target be granted on the following loans in euros of one. A target day is every day on which the Target-2 system processes payments.

The European Central Bank (ECB) calculates the EONIA to three decimal places as the per-annum interest rate using the act / 360 interest calculation method . The EONIA was established by the European Banking Federation (EBF) with the participation of the ECB in 1999 and is now a globally recognized interest rate index (“benchmark”) for short-term unsecured money market loans in the euro area. The EONIA is to be gradually replaced by the Euro Short-Term Rate (€ STR). The ECB has been publishing the € STR since October 2, 2019.

Course of the EONIA from 1999 to 2009

The EONIA has WKN 965994 and ISIN EU0009659945.

Calculation in detail

The EONIA is the weighted average of the interest rates at which the EONIA panel banks actually took out unsecured overnight loans denominated in euro on the interbank market in the euro area. The panel banks are the banks with the highest business volume in the euro area money market. The panel banks, which currently consist of 28 banks, 27 of them from the Eurozone and one from another EU country, report to the ECB on each Target day by 6:30 p.m. ( CET ) at the latest the scope and average interest rate of the unsecured money market loans made available by them on that day until the next Target day. Since the data issued by the individual banks is sensitive information, the ECB, as an independent institution, does the calculation. The calculated value, which has been given with three decimal places since September 3, 2007, is then published by the Calculating Agent GRSS (Global Rate Set Systems Ltd) between 6:45 and 7:00 p.m. on each banking day.

Since October 2, 2019, the calculation of the EONIA has been based on the € STR. The ECB has determined that the EONIA corresponds to the € STR plus a spread of 0.085%.

Financial products based on the EONIA

This interest rate is z. B. the basis for EONIA interest rate swaps , also for EONIA certificates and EONIA index funds that try to replicate the development of the EONIA.

From 1 July 2008 until the end of 2012 which offered German Finance Agency today's money like Day-Bonds of the Federal Republic of Germany , whose interest rate is directly linked to the EONIA.

See also

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  1. ↑ Overnight Loan. Functionality. In: bundeswertpapiere.de. 2011, archived from the original on April 13, 2011 ; accessed on October 31, 2018 .
  2. ↑ ECB information about the Euro short-term rate (€ STR). Retrieved June 3, 2019 .
  3. ↑ Eonia Panel Banks
  4. ↑ Euribor-EBF new Calculating Agent handover to be postponed. (PDF, 63 kB) European Banking Federation, April 28, 2014, accessed on October 31, 2018 (English).
  5. ↑ ECB information about the Euro short-term rate (€ STR). Retrieved June 3, 2019 .
  6. ↑ Private investors. Federal securities. In: Federal Republic of Germany Finance Agency GmbH. 2018, accessed June 13, 2018 .
  7. ↑ Handelsblatt May 28, 2008
  8. ↑ Overnight Loan. In: bundeswertpapiere.de. 2009, archived from the original on December 12, 2009 ; accessed on October 31, 2018 .

Web links

  • Deutsche Bundesbank - EONIA rate statistics: HTML PDF
Wiktionary: EONIA  - explanations of meanings, word origins, synonyms, translations