The Mutan
interest rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the 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
Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often a ...
. 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
Sonia, Sonja or Sonya, a name of Greek origin meaning wisdom, may refer to:
People
* Sonia (name), a feminine given name (lists people named, Sonia, Sonja and Sonya)
:* Sonia (actress), Indian film actress in Malayalam and Tamil films
:* Sonia ...
*
SARON
*
Federal funds rate
In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis. Reserve balances a ...
*
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 call ...
References
External links
Bank of Japan
{{finance-stub
Banking in Japan
Interest rates