What is ‘Johannesburg Interbank Agreed Rate – JIBAR’
The money market rate that is used by South Africa. The rate comes in one-month, three-month, six-month and 12-month discount terms.
Explaining ‘Johannesburg Interbank Agreed Rate – JIBAR’
The rate is determined as an average of the rates indicated by local and international banks. JIBAR is calculated as a yield and then converted into a discount. The rate is calculated daily after all of the rates are received by participating banks.
Further Reading
- The impact of short-term interest rates on bank funding costs – scholar.sun.ac.za [PDF]
- The absence of diffusion in the South African short rate – journals.co.za [PDF]
- Estimating the south african overnight indexed swap curve – www.sciencedirect.com [PDF]
- Temporal homogeneity between financial stress and the economic cycle – mpra.ub.uni-muenchen.de [PDF]
- Financial stress indicator variables and monetary policy in South Africa – www.kspjournals.org [PDF]
- Modelling the short-term interest rate with stochastic differential equation in continuous time: linear and nonlinear models – mpra.ub.uni-muenchen.de [PDF]
