EONIA

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The Euro over-night index average (“EONIA”) rate is the onvernight interbank interest rate for the Eurozone: the rate at which banks lend to each other overnight. Thus, it is the overnight EURIBOR rate.

DID SOMEONE SAY LIBOR???

Due, perhaps, to reputational collateral damage from the LIBOR fiasco — cue obligatory dramatic look gopher — interbank offered rates really aren’t the thing anymore — EONIA is to be phased out by the end of 2021 replaced by the haughtier Euro short-term rate (€STR) calculated and determined by the European Central Bank. €STR went live in October 2019.

See also

• Interest rate
• LIBOR