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Helibor
Helibor (''Helsinki Interbank Offered Rate'') was a reference rate that was used in 1987–1998 on the Finnish interbank market. It was calculated each day as an average of the interest rates at which the banks offered to lend unsecured, Finnish markka nominated funds to each other. Helibor was quoted for 1, 2, 3, 6, 9 and 12 month maturities. It was widely used as a reference rate for company loansMika VaihekoskiThe Finnish Stock Market: Recent Trends and Important Events Liiketaloudellinen Aikakauskirja — The Finnish Journal of Business Economics, 4/1997. and housing loans.G. Geoffrey Booth et alThe financing of residential real estate in Finland: an overview. Journal of Housing Research 5(2). 1994. Before deregulation and floating the currency, it was rather high compared to the rest of the Western world, meaning that for instance mortgage interest rates were regularly ca. 15%. This so-called ''Suomi-lisä'' was removed by deregulation. The Bank of Finland began publishing H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finnish Banking Crisis Of 1990s
The Finnish Banking Crisis of 1990s was a deep systemic crisis of the entire Finnish financial sector that took place mainly in the years 1991–1993, after several years of debt-based economic boom in the late 1980s. Its total taxpayer cost was roughly 8% of the Finnish GNP, making it the most severe of the contemporary Nordic banking crises. The crisis has been attributed to a combination of macro-economic turbulence, weak regulation, and bank-specific problems.Liisa HalmeThe 1990s banking crisis in Finland: main causes and consequences, lessons for the future. 2002. Governmental intervention included bank takeovers, direct monetary assistance and temporary blanket guarantees to the banks.Managing the banking cri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euribor
The Euro Interbank Offered Rate (Euribor) is a daily reference rate, published by the European Money Markets Institute, based on the averaged interest rates at which Eurozone banks offer to lend unsecured funds to other banks in the euro wholesale money market (or interbank market). Prior to 2015, the rate was published by the European Banking Federation. Scope Euribors are used as a reference rate for euro-denominated forward rate agreements, short-term interest rate futures contracts and interest rate swaps, in very much the same way as LIBORs are commonly used for Sterling and US dollar-denominated instruments. They thus provide the basis for some of the world's most liquid and active interest rate markets. Domestic reference rates, like Paris' PIBOR, Frankfurt's FIBOR, and Helsinki's Helibor merged into Euribor on EMU day on 1 January 1999. Euribor should be distinguished from the less commonly used "Euro LIBOR" rates set in London by 16 major banks. Technical feature ... [...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] |
Finland
Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland across Estonia to the south. Finland covers an area of with a population of 5.6 million. Helsinki is the capital and largest city, forming a larger metropolitan area with the neighbouring cities of Espoo, Kauniainen, and Vantaa. The vast majority of the population are ethnic Finns. Finnish, alongside Swedish, are the official languages. Swedish is the native language of 5.2% of the population. Finland's climate varies from humid continental in the south to the boreal in the north. The land cover is primarily a boreal forest biome, with more than 180,000 recorded lakes. Finland was first inhabited around 9000 BC after the Last Glacial Period. The Stone Age introduced several differ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 (EBS) and Thomson Reuters Dealing are the two competitors in the electronic brokering platform business and together connect over 1000 banks. The currencies of most developed countries have floating exchange rates. These currencies do not have fixed values but, rather, values that fluctuate relative to other currencies. The interbank market is an important segment of the foreign exchange market. It is a wholesale market through which most currency transactions are channeled. It is mainly used for trading among bankers. The three main constituents of the interbank market are: * the spot market * the forward market * SWIFT (Society for World-Wide Interbank Financial Telecommunications) The interbank market is unregulated and decentralized. There is no sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finnish Markka
The markka ( fi, markka; sv, mark; sign: Mk; ISO code: FIM, typically known outside Finland as the Finnish mark) was the currency of Finland from 1860 until 28 February 2002, when it ceased to be legal tender. The mark was divided into 100 pennies ( fi, penni; sv, penni), abbreviated as "p". At the point of conversion, the rate was fixed at €1 = Mk 5.94573. The mark was replaced by the euro (€), which had been introduced, in cash form, on 1 January 2002. This was after a transitional period of three years, when the euro was the official currency but only existed as "book money" outside of the monetary base. The dual circulation period, when both the Finnish mark and the euro had legal tender status, ended on 28 February 2002. Etymology The name "markka" was based on a medieval unit of weight. Both "markka" and "penni" are similar to words used in Germany for that country's former currency, based on the same etymological roots as the Deutsche Mark and pfennig. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maturity (finance)
In finance, maturity or maturity date is the date on which the final payment is due on a loan or other financial instrument, such as a Bond (finance), bond or term deposit, at which point the Bond (finance)#Principal, principal (and all remaining interest) is due to be paid. Most instruments have a ''fixed maturity date'' which is a specific date on which the instrument matures. Such instruments include fixed interest and variable rate loans or debt instruments, however called, and other forms of security such as redeemable preference shares, provided their terms of issue specify a maturity date. It is similar in meaning to "redemption date". Some instruments have ''no fixed maturity date'' which continue indefinitely (unless repayment is agreed between the borrower and the lenders at some point) and may be known as "perpetual stocks". Some instruments have a range of possible maturity dates, and such stocks can usually be repaid at any time within that range, as chosen by the bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Finland
The Bank of Finland ( fi, Suomen Pankki, sv, Finlands Bank) is the central bank of Finland. It views itself as the fourth oldest surviving central bank in the world, after Sweden's Riksbank, the Bank of England, and the Bank of France. History The precursor of Bank of Finland, ''Waihetus-, Laina- ja Depositioni-Contori Suomen Suuren-ruhtinaanmaassa'' (The Exchange, Loan and Deposit Office of the Grand Duchy of Finland), was established on 1 March 1812 in the city of Turku by Alexander I of Russia. In 1819 it was relocated to Helsinki. Until 1840 the main purpose of the bank was to carry out currency reform to introduce Imperial ruble. The Bank created and regulated the Finnish Markka from its inauguration in 1860 until Finland adopted the euro in 1999. Mandate, ownership and organization The Bank of Finland is Finland's central bank and a member of the European System of Central Banks and of the Eurosystem. It is Finland's monetary authority, and is responsible for the countr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
