3-DAY MIBOR INTRODUCED
The Market Practices Committee and Fixed Income Money Market & Derivative Association of India
(FIMMDA) Board in consultation with National Stock Exchange (NSE), has decided to introduce a 3-Day MIBOR, with effect from Friday 6th June 2008. Banks which are on the polling list for polling MIBOR rates to NSE are requested to poll two rates on Fridays commencing from 6th June 2008, that is:
(FIMMDA) Board in consultation with National Stock Exchange (NSE), has decided to introduce a 3-Day MIBOR, with effect from Friday 6th June 2008. Banks which are on the polling list for polling MIBOR rates to NSE are requested to poll two rates on Fridays commencing from 6th June 2008, that is:
- A one day MIBOR, as usual.
- An additional 3-Day MIBOR.
Commencing Saturday 7th June 2008, the MIBOR will be polled at 10.30 am instead of 9.40 am as is done on week-days, as the market is very thin on Saturdays, and market is expected to have a better depth by 10.30 am.
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