EDFR definition

EDFR means the Eurosystem Deposit Facility Rate, the rate on the deposit facility, which banks may use to make overnight deposits with the Eurosystem (comprising the European Central Bank and the national central banks of those countries that have adopted the Euro) as published on the Website of the European Central Bank;

EDFR means the Eurosytem Deposit Facility Rate, being the rate on the deposit facility, which banks may use to make overnight deposits with the Eurosystem and which is published on the European Central Bank’s website.

EDFR means the rate on the deposit facility (Eurosystem Deposit Facility Rate), i.e. the rate of inter- est for banks making deposits with the Eurosystem until the next TARGET Business Day which is pub- lished on the Website (EDFR).

Examples of EDFR in a sentence

• The EDFR will carry out a further check on the position prior to the meeting and will ensure that the Chair is informed at or before the commencement of the meeting.

• However, the EDFR will also be in a position to verify whether any particular Member is under a Section 106 duty and if a situation arises whereby the Member in question fails to declare an interest in terms of Section 106, the Chair is under an obligation to take account of the information provided by the EDFR.

• Once the Chair is in possession of that information the Chair should indicate to the meeting that Section 106 applied to a Member or Members present, based on information provided by the EDFR.

• In considering the advice of officers, and the weight to be attached to that advice, members should have regard to the personal duties placed upon the EDFR as Chief Financial Officer.

• By virtue of section 25, Local Government Act 2003, when the Council is making the calculation of its budget requirement, it must have regard to the report of the Executive Director of Finance & Resources (EDFR) as to the robustness of the estimates made for the purposes of the calculations and the adequacy of the proposed financial reserves.

• Prior to any meeting at which any of the matters referred above are to be considered, the EDFR, or her/his representative, will contact all Members who are, in her/his opinion, in a position where Section 106 applies.

• In considering the advice of officers, and the weight to be attached to that advice, members should have regard to the personal duties placed upon the Executive Director of Finance & Resources (EDFR) as Chief Financial Officer.

• If an ECB Recommended Rate has been recommended and both an ECB Recommended Rate Index Cessation Event and an ECB Recommended Rate Index Cessation Effective Date subsequently occur, then the rate of €STR for each TARGET Business Day in the relevant Observation Period occurring on or after that ECB Recommended Rate Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

• If no ECB Recommended Rate has been recommended before the end of the first TARGET Business Day following the date on which the €STR Index Cessation Event occurs, then the rate of €STR for each TARGET Business Day in the relevant Observation Period on or after the €STR Index Cessation Effective Date will be determined as if references to €STR were references to the Modified EDFR.

• It would clearly be impractical to require the EDFR to give notice on the forward plan every time it was intended to carry out this administrative procedure.

More Definitions of EDFR

EDFR means, in respect of any relevant day (including any day “i”), the rate on the deposit facility, which banks may use to make overnight deposits with the Eurosystem, in respect of that day.