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TONAR
Tokyo Overnight Average Rate (TONA rate or TONAR) or Japanese Yen Uncollateralized Overnight Call Rate () is an unsecured interbank overnight interest rate and reference rate for Japanese yen. Mutan rate and TONA rate are the same things. History Japanese yen uncollateralized overnight call market started in July 1985. Since December 28, 2016, the Bank of Japan has recommended the TONA rate as the preferred Japanese yen risk-free reference rate. TONA rate is recommended as a replacement for Japanese yen LIBOR, which was phased out at the end of 2021, and Euroyen TIBOR, which will be terminated at the end of 2024. Target rates TONA Compounded Benchmarks ; TONA Averages : TONA Averages are derived from the daily compounded TONA rate. The terms are 30day, 90days, and 180 days. ; TONA Index : Assets when 100 was invested in TONA on June 14, 2017. References External links - Bank of Japan The is the central bank of Japan.Louis Frédéric, Nussbaum, Louis Frédéri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overnight Rate
The overnight rate is generally the interest rate that large banks use to borrow and lend from one another in the overnight market. In some countries (the United States, for example), the overnight rate may be the rate targeted by the central bank to influence monetary policy. In most countries, the central bank is also a participant on the overnight lending market, and will lend or borrow money to some group of banks. There may be a published overnight rate that represents an average of the rates at which banks lend to each other; certain types of overnight operations may be limited to qualified banks. The precise name of the overnight rate will vary from country to country. Background Throughout the course of a day, banks will transfer money to each other, to foreign banks, to large clients, and other counterparties on behalf of clients or on their own account. At the end of each working day, a bank may have a surplus or shortage of funds (or a shortage or excess reserves in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reference Rate
A reference rate is a rate that determines pay-offs in a financial contract and that is outside the control of the parties to the contract. It is often some form of LIBOR rate, but it can take many forms, such as a consumer price index, a house price index or an unemployment rate. Parties to the contract choose a reference rate that neither party has power to manipulate. Examples of use The most common use of reference rates is that of short-term interest rates such as LIBOR in floating rate notes, loans, swaps, short-term interest rate futures contracts, etc. The rates are calculated by an independent organisation, such as the British Bankers Association (BBA) as the average of the rates quoted by a large panel of banks, to ensure independence. Another example is that of swap reference rates for constant maturity swaps. The ISDAfix rates used are calculated daily for an independent organisation, the International Swaps and Derivatives Association, from quotes from a large pane ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutan Rate
The Mutan interest rate is the un- collateralized overnight call rate in Japan. It is the reference rate for JPY overnight unsecured transactions in the Japanese market. It was launched in July 1985 and it is the main tool for the transmission of the Bank of Japan's monetary policy. Mutan rate and TONA rate are the same things. Publication Bank of Japan publishes a provisional rate, rounded to three decimal places, every business day around 17:15 JST (or 18:15 JST for the last business day of the month). A final result is published the following business day around 10:00 JST. The results published contain weighted-average, highest, and lowest rate during the business day. See also * EONIA * SONIA * SARON * Federal funds rate * Interbank lending market The interbank lending market is a market in which banks lend funds 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 th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LIBOR
The London Inter-Bank Offered Rate (Libor ) was an interest rate average calculated from estimates submitted by the leading Bank, banks in London. Each bank estimated what it would be charged were it to borrow from other banks. It was the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, with market participants encouraged to transition to risk-free interest rates such as SOFR and SARON. LIBOR was discontinued in the summer of 2023. The last rates were published on 30 June 2023 before 12:00 pm UK time. The 1 month, 3 month, 6 month, and 12 month Secured Overnight Financing Rate (SOFR) is its replacement. In July 2023, the International Organization of Securities Commissions (IOSCO) said four unnamed United States dollar, dollar-denominated alternatives to LIBOR, known as "credit-sensitive rates", had "varying degrees of vulnerability" that might appear during times of market stress. Libor rates w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interbank Lending Market
The interbank lending market is a market in which banks lend funds 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 (also called the overnight rate if the term of the loan is overnight). A sharp decline in transaction volume in this market was a major contributing factor to the collapse of several financial institutions during the 2008 financial crisis. Banks are typically required to hold reserves of an adequate amount of liquid assets, such as cash, to manage any potential bank runs by customers. To remain compliant, those banks with less than the required liquidity will borrow money and pay interest in the interbank market, while those with excess liquid assets will lend money and receive interest. The interbank rate is the rate of interest charged on short-term loans between banks. Banks borrow and lend money in the interbank lending market in order to ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Yen
The is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. It is also widely used as a third reserve currency after the US dollar and the euro. The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as of gold, or of silver, and divided decimally into 100 ''sen'' or 1,000 ''rin''. The yen replaced the previous Tokugawa coinage as well as the various ''hansatsu'' paper currencies issued by feudal ''han'' (fiefs). The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II, the yen lost much of its pre-war value as Japan faced a debt crisis and hyperinflation. Under the Bretton Woods system, the yen was pegged to the US dollar alongside other major currencies. After this system was abandoned in 1971 with the Nixon shock, Nixon Shock, the short-lived Smithsonian Agreement temporarily reinstat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Japan
The is the central bank of Japan.Louis Frédéric, Nussbaum, Louis Frédéric. (2005). "Nihon Ginkō" in The bank is often called for short. It is headquartered in Nihonbashi, Chūō, Tokyo, Chūō, Tokyo. The said bank is a corporate entity independent of the Government of Japan, Japanese government, and while it is not an Administrative organisation, administrative organisation of the state, its monetary policy falls within the scope of administration. From a Macroeconomics, macroeconomic perspective, long-term stability of prices is deemed crucial. However, the political sector tends to favour short-term measures. Thus, the bank's autonomy and independence are granted from the standpoint of ensuring long-term public welfare and political neutrality. History Background Like most modern Japanese institutions, the Bank of Japan was founded after the Meiji Restoration. Prior to the Restoration, Japan's feudal fiefs all issued their own money, ''Scrip of Edo period Japan, ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk-free Rate
The risk-free rate of return, usually shortened to the risk-free rate, is the rate of return of a hypothetical investment with scheduled payments over a fixed period of time that is assumed to meet all payment obligations. Since the risk-free rate can be obtained with no risk, any other investment having some risk will have to have a higher rate of return in order to induce any investors to hold it. In practice, to infer the risk-free interest rate in a particular currency, market participants often choose the yield to maturity on a risk-free bond issued by a government of the same currency whose risks of default are so low as to be negligible. For example, the rate of return on zero-coupon Treasury bonds (T-bills) is sometimes seen as the risk-free rate of return in US dollars. Theoretical measurement As stated by Malcolm Kemp in chapter five of his book ''Market Consistency: Model Calibration in Imperfect Markets'', the risk-free rate means different things to different pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TIBOR
Tibor is a masculine Hungarian given name. * Originated shortened form of the medieval Hungarian name ''Tiborc''; which originates from the ancient Latin surname Tiburtius. * from Etruscan name Tibur, which means "honest man" Some notable people known by this name include: * Tibor Ág * Tibor Antalpéter * Tibor Benedek * Tibor Farkas * Tibor Feheregyhazi * Tibor Fischer * Tibor Gécsek * Tibor Hollo * Tibor Kalman * Tibor R. Machan * Tibor Mičinec * Tibor Nyilasi * Tibor Ordina * Tibor Őze Hungarian football manager * Tibor Parák * Tibor Pleiß * Tibor Polgár (1907–1993), Hungarian composer * Tibor Radó * Tibor Renyi * Tibor Selymes * Tibor Sisa Hungarian football manager * Tibor Stark * Tibor Szasz * Tibor Szele * Tibor Varga (ice hockey) * Tibor Varga (violinist) * Tibor Viniczai * Tibor Wlassics * Tibor Zsitvay See also * Ctibor (name) * ''Tibor'' is the Hungarian name for Tibru village, Cricău Commune, Alba County, Romania * TIBOR is the short nam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compound Interest
Compound interest is interest accumulated from a principal sum and previously accumulated interest. It is the result of reinvesting or retaining interest that would otherwise be paid out, or of the accumulation of debts from a borrower. Compound interest is contrasted with Interest#Calculation, simple interest, where previously accumulated interest is not added to the principal amount of the current period. Compounded interest depends on the simple interest rate applied and the frequency at which the interest is compounded. Compounding frequency The ''compounding frequency'' is the number of times per given unit of time the accumulated interest is capitalized, on a regular basis. The frequency could be yearly, half-yearly, quarterly, monthly, weekly, daily, continuous compounding, continuously, or not at all until maturity. For example, monthly capitalization with interest expressed as an annual rate means that the compounding frequency is 12, with time periods measured in m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
