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TONAR
Tokyo Overnight Average Rate (TONA rate or TONAR) or Japanese Yen Uncollateralized Overnight Call Rate ( ja, 無担保コールO/N物レート) 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 F ... [...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 fra ... [...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 over day. Such loans are made at t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LIBOR
The London Inter-Bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting average rate is usually abbreviated to Libor () or LIBOR, or more officially to ICE LIBOR (for Intercontinental Exchange LIBOR). It was formerly known as BBA Libor (for British Bankers' Association Libor or the trademark bba libor) before the responsibility for the administration was transferred to Intercontinental Exchange. It is the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, and market participants are being encouraged to transition to risk-free interest rates. As of late 2022, parts of it have been discontinued, and the rest is scheduled to end within 2023; the Secured Overnight Financing Rate (SOFR) is its replacement. Libor rates are calculated for five currenci ... [...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 over day. 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 financial crisis of 2007–2008. Banks are 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 manag ... [...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 (US$) and the euro. It is also widely used as a third reserve currency after the US dollar and the euro. The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as of gold, or of silver, and divided decimally into 100 ''sen'' or 1,000 ''rin''. The yen replaced the previous Tokugawa coinage as well as the various ''hansatsu'' paper currencies issued by feudal ''han'' (fiefs). The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II, the yen lost much of its prewar value. To stabilize the Japanese economy, the exchange rate of the yen was fixed at ¥360 per US$ as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per US$ ... [...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 has its headquarters in Chūō, Tokyo, Chūō, Tokyo. History 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, hansatsu'', in an array of incompatible denominations, but the ''New Currency Act'' of Meiji 4 (1871) did away with these and established the yen as the new decimal currency, which had parity with the Mexican silver dollar. The former Han (Japan), han (fiefs) became Prefectures of Japan, prefectures and their mints became private chartered banks which, however, initially retained the right to print money. For a time both the central government and these so-called "national" banks issued money. A period of unanticipated consequences was ended when the Bank of Japan was founded ... [...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 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 people and there is no consensus on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TIBOR
Tibor is a masculine given name found throughout Europe. There are several explanations for the origin of the name: * from Latin name Tiberius, which means "from Tiber", Tiber being a river in Rome. * in old Slavic languages, Tibor means "sacred place". * shortened form of the name ''Tiborc''; which originates from the ancient Latin surname Tiburtius. * from Etruscan name Tibur, which means "honest man" Some notable men known by this name include: * 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 Parák * Tibor Pleiß * Tibor Radó * Tibor Renyi * Tibor Selymes * Tibor Stark * Tibor Szasz * Tibor Szele * Tibor Varga (ice hockey) * Tibor Varga (violinist) * Tibor Zsitvay Tibor Zsitvay de Zsitvatő (10 November 1884 – 9 July 1969) was a Hungarian politician and jurist, who served as Minister of Justice between 192 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
