Latest news with #SecuredOvernightRupeeRate
&w=3840&q=100)
Business Standard
21-07-2025
- Business
- Business Standard
Govt changes timing of overnight rate release with effect from Aug 4
India has pushed the timing of publishing an overnight benchmark rate by two hours, with effect from August 4, Financial Benchmark India said. Financial Benchmark India will publish the daily Mumbai Interbank Offer Rate at 12:45 p.m. IST, instead of the current 10:45 a.m. IST, it said in a release dated July 18. "The benchmark rate will be computed from actual traded data in the call money market for the first three hours of trading, i.e. from 9 AM to 12 Noon, instead of the first one hour of trading data presently used for computation of MIBOR," the FBIL said. This move comes after FBIL started publishing a new overnight benchmark, the Secured Overnight Rupee Rate, which gets published daily at 12:45 p.m. IST. SORR is computed from actual traded data in the tri-party repo market and the basket repo trades of the market repo segment for the first three hours of trading. A committee set up by the Reserve Bank of India to review the MIBOR had recommended that to compute the rate, the first three hours of trades should be considered instead of the first one hour. Since about 70 per cent-80 per cent of the daily traded volume in the call money market is transacted in the first three hours of trading, data from that duration would enhance the representativeness of the benchmark, according to the committee.
Time of India
21-07-2025
- Business
- Time of India
India changes time for release of key overnight benchmark rate
Financial Benchmark India has shifted the publication time of the Mumbai Interbank Offer Rate (MIBOR) to 12:45 p.m. IST, effective August 4. This adjustment aligns with the computation of MIBOR using the first three hours of trading data, enhancing the benchmark's representativeness. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India has pushed the timing of publishing an overnight benchmark rate by two hours, with effect from August 4, Financial Benchmark India Benchmark India will publish the daily Mumbai Interbank Offer Rate at 12:45 p.m. IST, instead of the current 10:45 a.m. IST, it said in a release dated July 18."The benchmark rate will be computed from actual traded data in the call money market for the first three hours of trading, i.e. from 9 AM to 12 Noon, instead of the first one hour of trading data presently used for computation of MIBOR ," the FBIL move comes after FBIL started publishing a new overnight benchmark, the Secured Overnight Rupee Rate , which gets published daily at 12:45 p.m. is computed from actual traded data in the tri-party repo market and the basket repo trades of the market repo segment for the first three hours of trading.A committee set up by the Reserve Bank of India to review the MIBOR had recommended that to compute the rate, the first three hours of trades should be considered instead of the first one about 70%-80% of the daily traded volume in the call money market is transacted in the first three hours of trading, data from that duration would enhance the representativeness of the benchmark, according to the committee.
Business Recorder
10-07-2025
- Business
- Business Recorder
India bonds flat; traders eye debt supply, RBI liquidity move
MUMBAI: Indian government bonds ended largely unchanged on Thursday as traders awaited a fresh debt supply and further cues on liquidity management from the central bank. The yield on the benchmark 10-year bond ended at 6.3156%, after closing at 6.3136% on Wednesday. Bond yields move inversely to prices. 'Market sentiment remains cautious amid tight liquidity signals from the Reserve Bank of India via Variable Rate Reserve Repos (VRRR),' Pawan Somani, founder of Infinask Advisors, said. The 10-year note has hovered between 6.28% and 6.32% since the start of the month, and the trend is likely to continue amid fresh triggers, traders said. New Delhi plans to sell bonds worth 250 billion rupees ($2.92 billion) on Friday, including a new seven-year note. RBI's liquidity withdrawal move weighs on India bond prices The note traded at around 6.25% in the 'when-issued' segment of the trading platform on Thursday. Market focus is also on liquidity levels in the banking system and on any further measures by the RBI to drain the surplus. The RBI's second liquidity-absorbing operation in four sessions on Wednesday pushed overnight rates above the floor of the policy corridor. The newly launched Secured Overnight Rupee Rate (SORR) has stayed above the floor of monetary policy corridor for the second straight session after slipping below the Standing Deposit Facility rate on Monday and Tuesday. The central bank removed 973 billion rupees via a two-day VRRR\ on Wednesday. Traders said clarity on a potential U.S.-India trade deal, which U.S. President Donald Trump said was 'close', would be a key trigger for the market. Rates India's overnight index swap rates (OIS) were mostly flat as traders awaited more cues, with the trading range shrinking across the curve. The one-year OIS rate was at 5.515%, and the two-year OIS rate was at 5.4875%. The liquid five-year OIS rate was at 5.69%.
