Search: interbank overnight rate
RBA Glossary definition for interbank overnight rate
interbank overnight rate – The interbank overnight rate (also known as the cash rate) is the interest rate which banks pay or charge to borrow funds from or lend funds to other banks on an overnight unsecured basis. The Reserve Bank of Australia uses this rate as an operational target for the implementation of monetary policy. The Reserve Bank of Australia calculates and publishes this rate each day on the basis of data collected directly from banks. The interbank overnight rate has been published by the Reserve Bank of Australia since June 1998.
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Box E: Yields on Sovereign Debt
10 May 2012
SMP
– May 2012
Within the Australian market, bank bill swap reference rates (BBSW) are generally used to determine floating rate payments. ... Table E1 shows yields on a range of sovereign debt, as well as spreads on sovereign debt when swapped against 6-month
https://www.rba.gov.au/publications/smp/2012/may/box-e.html
International and Foreign Exchange Markets
10 Feb 2014
SMP
– February 2014
The resulting decline in excess liquidity has contributed to a rise in interbank rates, with a marked spike over year-end and again in January (Graph 2.3). ... Liquidity in Chinese money markets has continued to tighten over recent months, with the
https://www.rba.gov.au/publications/smp/2014/feb/intl-fx-mkts.html
Introduction | Conference – 2013
19 Aug 2013
Conferences
In particular, they note four facts: higher excess reserves drive overnight interbank rates towards the bottom of the interest rate corridor, reduce volatility and reduce market volume. ... Also, higher credit risk for an institution raises the overnight
https://www.rba.gov.au/publications/confs/2013/intro-2013.html
Operations in Financial Markets
21 Oct 2021
RBA Annual Report
– 2021
The Reserve Bank is the administrator of the cash rate, which is a significant financial benchmark referenced in overnight indexed swaps and the ASX's 30-day interbank cash rate futures ... the interest rate relevant to unsecured overnight funds for cash
https://www.rba.gov.au/publications/annual-reports/rba/2021/operations-in-financial-markets.html
June | 2019
20 Jun 2019
Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/2019/jun/
Domestic Financial Conditions
4 Feb 2021
SMP
– February 2021
The rates on 3-month bank bills (BBSW) have edged lower to be around 1 basis point, slightly below the overnight indexed swap (OIS) rate. ... Basis points. Table 3.1: Average Outstanding Housing Rates. December 2020. Variable-rate loans. –
https://www.rba.gov.au/publications/smp/2021/feb/domestic-financial-conditions.html
Financial System Liquidity, Asset Prices and Monetary Policy | Conference – 2005
11 Jul 2005
Conferences
Although a central bank generally directly controls only the overnight interest rate, its communication policy serves to guide the market's expectations into doing its bidding. ... The orthodox view of monetary policy is that, although the central bank
https://www.rba.gov.au/publications/confs/2005/shin.html
China's Evolving Monetary Policy Framework in International Context
1 Dec 2019
RDP
2019-11
Exchange rate. Inflation. Operational target(s). Monetary base. 7-day interbank repo rate. ... Overnight cash rate target. Reserves/asset purchases. Primary instrument(s). PBC repo rate in corridor system.
https://www.rba.gov.au/publications/rdp/2019/2019-11/full.html
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Australian Money Market Divergence: Arbitrage Opportunity or Illusion?
1 Sep 2019
RDP
2019-09
In recent years, however, interest rates in short-term money markets have significantly and persistently deviated from each other, and from overnight cash rate expectations as captured by overnight indexed swaps ... Note: (a) Discounted variable rates on
https://www.rba.gov.au/publications/rdp/2019/2019-09/full.html
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Regulatory Developments
20 Oct 2018
FSR
– October 2018
Risk-free rates are typically based on overnight interbank markets where there are large volumes of transactions by many participants. ... One of these, the secured overnight financing rate (SOFR), was recommended by the Alternative Reference Rates
https://www.rba.gov.au/publications/fsr/2018/oct/regulatory-developments.html