Eonia rates

Eonia is a reference rate for the money markets in the euro area and an abbreviation of the words Euro OverNight Index Average. The Eonia and Euribor rates constitute the reference rates of the euro-zone.

Like euribor, the Eonia rate is computed by a panel of 57 banks. The panel consists of the most active banks in the euro area. Nordea is the only Finnish bank on the panel.

The Eonia rates are computed as a weighted average of all overnight unsecured lending transactions in the money market, whereas in the computation of Euribor rates only interest offers, and not realised transactions, are included. Only unsecured transactions are taken into account with Eonia rates, except for repurchase operations (repos).

The interest information will be gathered from the panel banks daily no later than 19:30 Finnish time. The ECB will aim at making the Eonia rates available for publication on the same day between 19.45 and 20.00; however, at the latest at the opening of the Target money market system the following day. The Eonia rate will be published with two (2) decimals.

The calculation basis for the Eonia rate is 360 days.

More information on the Eonia rate available at http://www.euribor.org