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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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Submission to Payments System Review – January 2021 | Responses and Options Paper

25 May 2023 Submissions
how it sets interest rates and uses other monetary policy tools to achieve those goals.
https://www.rba.gov.au/publications/submissions/payments-system/submission-to-payments-system-review-01-2021/index.html

The Role of the Financial Sector | Submission to the Financial System Inquiry – March 2014 | Financial Sector | Submissions

1 Mar 2014 Submissions
Indeed, the central bank can also play an important role. In the Australian context, the Reserve Bank is the supplier of funds that can be lent or borrowed in the overnight ... market. From day to day, the Reserve Bank's goal is to manage supply to meet
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/role-of-financial-sector.html

Submission on Data Sharing and Release Legislation – August 2018 | Data Sharing | Submissions

1 Aug 2018 Submissions
This could apply to the Bank's dealing with individual counterparties in financial markets, including the Open Market Operations used to keep the Bank's policy interest rate at the target ... Similar concerns would relate to data resulting from the
https://www.rba.gov.au/publications/submissions/other/data-sharing-and-release-legislation/

Handout and Supplementary Information Prepared for Standing Committee on Economics – September 2016 | Bank Fees and Margins | Submissions

22 Sep 2016 Submissions
Handout and Supplementary Information Prepared for Standing Committee on Economics – September 2016
https://www.rba.gov.au/publications/submissions/financial-sector/handout-standing-committee-on-economics-2016-09-22/

Developments and Innovation in the Payments System | Submission to the Financial System Inquiry – March 2014 | Financial Sector |…

1 Mar 2014 Submissions
Alongside this, the Bank of England retains its oversight responsibilities for systemically important interbank systems and FMIs. ... In practice, the schemes have set a large number of different interchange fee rates for different types of transactions,
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/developments-and-innovation.html

The Reserve Bank's Response | Report to the Inquiry into Competition in the Banking and Non-Banking Sectors – May 2009 | Financial Sector | …

7 May 2009 Submissions
The operational target for monetary policy in Australia is the cash rate – the overnight interest rate paid on unsecured loans between banks. ... The target for the cash rate is established at the monthly meetings of the Reserve Bank Board.
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-report-2009-05/reserve-bank-response.html

Appendix 1: Changes to Bank Regulations | Submission to the Inquiry into the Australian Banking Industry – January 1991 | Financial Sector…

1 Jan 1991 Submissions
1970. March. Savings bank deposit rates could be varied subject to the maximum rate set by the Reserve Bank. ... Trading banks were given increased freedom to negotiate interest rates on deposits greater than $50,000, subject to a maximum rate, for terms
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-australian-banking-industry/appendix-1.html

Feasibility of Further Expansion | Report to the Inquiry into Competition in the Banking and Non-Banking Sectors – May 2009 | Financial…

7 May 2009 Submissions
Moreover, the longer the maturity of the repo, the greater degree of interest rate risk. ... ultimately compromise the Bank's ability to manage liquidity in the overnight cash market and thereby compromise the stability of the cash rate.
https://www.rba.gov.au/publications/submissions/financial-sector/inquiry-report-2009-05/feasibility-of-further-expansion.html

Background: Financial System Trends | Submission to the Financial System Inquiry – 6 September 1996 | Financial Sector | Submissions

6 Sep 1996 Submissions
Virtually all financial firms now offer a much wider range of products and services than a decade ago, with multiple options as to rate of return, liquidity, risk characteristics, and so ... A major development in wholesale payments is the move to the
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-1996/background-financial-system-trends.html

Superannuation | Submission to the Financial System Inquiry – March 2014 | Financial Sector | Submissions

1 Mar 2014 Submissions
Superannuation funds do not engage in trading with each other, whereas interbank borrowing and lending is significant. ... Second, given the low interest rate environment globally in recent years, investors are increasingly ‘searching for yield’.
https://www.rba.gov.au/publications/submissions/financial-sector/financial-system-inquiry-2014-03/superannuation.html