EONIA

EONIA. Designates the arithmetical average of the overnight inter-bank lending rates granted by certain benchmark banks, such average being weighted in direct proportion to the volume of transactions completed. This rate is calculated by the European Central Bank and published by the European Banking Federation on page 247 of the Telerate server on the TARGET Business Day following the date of the transactions used for its calculation. In the event of any modification having an effect upon the... composition and/or definition of EONIA, as well as in the event of the disappearance of EONIA and its replacement by an index of the same type or equivalent, and also in the event of any modification concerning the publishing body or the publication methods, the index resulting from such modification or from such substitution shall automatically apply (this provision having no impact upon payability and therefore not constituting an agreement on settlement periods) View More