Bank of England moves to clear up SONIA rate setting

Bank of England moves to clear up SONIA rate setting
 

The Bank of England said on Monday it planned to change the way a benchmark for interbank lending is calculated as part of its attempts to stamp out the manipulation of key yardsticks in financial markets.
The BOE said it was proposing that the methodology for calculating the Sterling Overnight Index Average (SONIA) should be based on the average rate using a volume-weighted median, rather than a volume-weighted mean.
The change would make it harder for traders to influence SONIA unduly by placing outlying quotes.
A money market analyst at a large international bank said the change was of... read more

 
10 October 2016 in Business, Views: 36
Source: Reuters
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