EONIA - Euro Overnight Index Average

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Definition: EONIA - Euro Overnight Index Average

It is the effective overnight reference rate for the euro. It is calculated by taking a weighted average of all the overnight unsecured lending transactions in the interbank market, that is those transactions undertaken in the European Union and European Free Trade Association (EFTA) countries. 57 banks are taken into consideration when calculating this value.

It is calculated on a daily basis by the European Central Bank. It is one of the two benchmarks used in the Eurozone (for the money and capital markets). The other benchmark used is Euribor.


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