Talk:EURONIA
 | This article was nominated for deletion on 31 March 2009. The result of the discussion was keep. |
Although not often appearing in discussions in the popular media, EURONIA is a benchmark interest rate. It is one of several interest rates listed everyday in the Financial Times outline of world interest rates (see last link below). It represents a London-based alternative to the continent's EONIA rate. The only difference between EONIA and EURONIA is that EURONIA is calculated from the unsecured overnight euro deposit trades originated by money brokers in London (Vaitilingam, 2001, Financial Times Guide to Using the Financial Pages, Prentice Hall, page 188).
If it does not merit its own entry, I think that information on the EONIA/EURONIA distinction should be included in the EONIA definition on Wikipedia or in the discussion on SONIA (also London-based). In fact, EURONIA is referenced in the discussion of SONIA on the British Bankers' Association. It is also referenced in Bank of England materials regarding a possible transition to the euro, where EURONIA would replace SONIA as the benchmark rate in the UK. It is also referenced by the Institute of Chartered Accountants in their discussion of the appropriate UK bank base rates to apply.
http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=125&a=671&view=print (31 March 2009)
http://www.bankofengland.co.uk/publications/other/europe/cityguide/UK%20Euro%20changeover-glossary.pdf (31 March 2009)
http://www.bankofengland.co.uk/publications/other/europe/cityguide/UK%20Euro%20changeover-A4.pdf (31 March 2009)
http://markets.ft.com/ft/markets/reports/FTReport.asp?dockey=MNY-300309 (31 March 2009)