Overnight SARON definition

Overnight SARON means the overnight SARON published and administered by the Swiss Stock Exchange (or a successor administrator) as the administrator.
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Examples of Overnight SARON in a sentence

  • For further information please refer to section 10 (Tax Provisions) and 11 (Costs and Fees).5 Where the sub-fund is liquidated, the Management Company and/or the depositary may charge a liquidation fee of not more than CHF 10,000 for its own benefit.6 The flat-rate remuneration is made up of two components: a fixed fee and an interest-linked fee using the Swiss Average Rate Overnight (SARON).

  • In Switzerland, the National Working Group on Swiss Franc Reference Rates has recommended the CHF Swiss Average Rate Overnight (SARON) as the alternative reference rate to replace CHF LIBOR.

  • Condition 5(c) (Interest on Floating Rate Notes, Inverse Floating Rate Notes and Inflation Linked Notes) allows for Notes referencing the Euro short term rate (€STR), the Sterling Overnight Index Average (SONIA), the Secured Overnight Financing Rates (SOFR), the Tokyo overnight average (TONA) or the Swiss Average Rate Overnight (SARON) to be issued.

  • The Working Group on Sterling Risk-Free Reference Rates in the United Kingdom chose the Sterling Overnight Index Average (SONIA) to replace British pound sterling LIBOR; the Study Group on Risk-Free Reference Rates in Japan chose the Tokyo Overnight Average Rate (TONAR) to replace yen LIBOR and to serve as an alternative to the Tokyo Interbank Offered Rate (TIBOR); and the National Working Group in Switzerland selected the Swiss Average Rate Overnight (SARON) to replace Swiss franc LIBOR.

  • The Sub-Funds will also use the Swiss Average Rate Overnight (SARON), provided by SIX Financial Information AG which is registered on the public register of administrators and benchmarks maintained by ESMA pursuant to Article 36 of the Benchmark Regulation.

  • The Swiss Average Rate Overnight (SARON) is a secured overnight interest rates average referencing the CHF interbank repo market.

  • As proposed in Order No. 5337 and implemented here, the amount of the density-based rate authority would be determined annually based on the formula described below.

  • The NWG has already established an important basis for replacing the Swiss franc LIBOR with the introduction of the Swiss Average Rate Overnight (SARON).

  • In 2017, the Swiss NWG recommended the Swiss Average Rate Overnight (SARON) administered by SIX Swiss Exchange Financial Information AG (SIX) as the replacement rate for CHF LIBOR (4).

  • Benchmark Rate means the Sterling Overnight Index Average (SONIA) for Pounds Sterling, the Euro short-term rate (STR) for Euros, the Secured Overnight Financing Rate (SOFR) for United States Dollars and the Swiss Average Rate Overnight (SARON) for Swiss Francs, as applicable.

Related to Overnight SARON

  • Overnight LIBOR Rate means, in relation to any Loan in a LIBOR Quoted Specified Alternative Currency for any day, a rate per annum equal to the London Interbank Offered Rate (“LIBOR”) for such currency or, if such rate is not available, a comparable or successor rate which rate is reasonably selected by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m. (London time) for an amount comparable to the amount of that Loan on such day for overnight deposits in the relevant currency, and, if any such applicable rate is below zero, the Overnight Libor Rate for such day will be deemed to be zero; provided, that, after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

  • Courier means any armed person who transports or offers to transport from one place to another

  • Overnight Rate means, for any day, the greater of (a) the Federal Funds Rate and (b) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

  • Overnight Foreign Currency Rate means, for any amount payable in a Foreign Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in an amount comparable to the unpaid principal amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in respect of such amount in such relevant currency.

  • Overnight Bank Funding Rate means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time) and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate).

  • Domestic Business Day means any day except a Saturday, Sunday or other day on which commercial banks in New York City are authorized by law to close.

  • FX Business Day is any day when (a) Bank’s Foreign Exchange Department is conducting its normal business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency.

  • Relevant Business Day means a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a single shared platform and which was launched on 19 November 2007 (TARGET2) is open for the settlement of payments in EUR.

  • New York Business Day means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York City are generally authorized or obligated by law or executive order to close.

  • Currency Business Day means a day on which commercial banks and foreign exchange markets are open for general business (including dealings in foreign exchange and foreign currency deposits) in the principal financial centre of the Relevant Currency or, in the case of euros, a city in which banks in general have access to the TARGET2 System.

  • Euro-Dollar Business Day means any Domestic Business Day on which commercial banks are open for international business (including dealings in dollar deposits) in London.

  • SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

  • Eurodollar Business Day means any Business Day on which dealings are also carried on in the London interbank market and banks are open for business in London.

  • Messenger means the Insured or a partner of the Insured or any Employee who is duly authorized by the Insured to have the care and custody of the insured property outside the Premises.

  • RFR Business Day means as applicable, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to (i) Sterling, a day on which banks are open for general business in London and (ii) Euro, a TARGET Day.

  • TARGET2 Business Day means, a day in which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System or any successor is open.

  • Dispatch Rate means the control signal, expressed in dollars per megawatt-hour, calculated and transmitted continuously and dynamically to direct the output level of all generation resources dispatched by the Office of the Interconnection in accordance with the Offer Data.

  • London Business Day Any day on which dealings in deposits of United States dollars are transacted in the London interbank market.

  • Automated Message Accounting (AMA means the structure that is inherent in switch technology that initially records Telecommunication message information. AMA format is contained in the Automated Message Accounting document published by iconectiv (formerly known as Telcordia) as GR-1100-CORE, which defines and amends the industry standard for message recording.

  • Substitute Commercial Paper Dealers means such Substitute Commercial Paper Dealer or Dealers as the Corporation may from time to time appoint or, in lieu of any thereof, their respective affiliates or successors.

  • Commercial Paper Dealers means Merrill Lynch, Pierce, Fenner & Smith Incorporated and such other commercial paper dealer or dealers as the Corporation may from time to time appoint, or, in lieu of any thereof, their respective affiliates or successors.

  • Exchange Business Day means any Scheduled Trading Day on which the Exchange and each Related Exchange are open for trading during their respective regular trading sessions, notwithstanding any such Exchange or Related Exchange closing prior to its Scheduled Closing Time.

  • Canadian Business Day means a day of the year on which banks are not required or authorized by law to close in Toronto, Ontario or in Mxxxxxxx, Xxxxxx, Xxxxxx or New York, New York.

  • Euro Business Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System, or any successor system, is open for business.