Overnight Rate
Definition
Overnight Rate. A reference rate that is an interest rate at which a depository institution lends funds to another depository institution (short-term), or the interest rate the central bank charges a financial institution to borrow money overnight
The overnight rate is the lowest available interest rate, and as such, it is only available to the most creditworthy institutions. It is the underlying rate for Overnight Interest Rate Swaps (IOS).
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
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