SOFIBOR / SOFIBID / LEONIA

SOFIBOR / SOFIBID / LEONIA

The SOFIBOR (Sofia Interbank Offered Rate), SOFIBID (Sofia Interbank Bid Rate) and the LEONIA (LEv OverNight Index Average) Reference Rates are sponsored by the Association of Banks in Bulgaria (ABB), the Bulgarian Dealers’ Association (BDA), and the Bulgarian National Bank (BNB).

The SOFIBOR Reference Rate is a fixing of the quotes for unsecured BGN deposits offered in the Bulgarian interbank market. It is produced for a set of maturities at 11:00 am (local time) every business day as an average of the ask quotes provided by a representative panel of banks.

Contributor banks also provide the respective bid rates, which are averaged by analogy with the fixing. The resultant value is called the SOFIBID Reference Rate.

For the calculation, contributor rates are ranked in order and the top 20% and bottom 20% of all gathered rates are eliminated. The remaining rates are then averaged arithmetically.

The Reference Rates are quoted with spot value (2 business days) for all maturities, except ‘overnight’, and on an ‘actual/360’ day count convention and are displayed to three decimal places.

LEONIA is an effective overnight rate computed as a weighted average of all overnight unsecured lending transactions in the interbank market in Bulgaria by a representative panel of banks. Daily reports are provided by the same contributor banks as quote for SOFIBOR. It is reported on an ‘actual/360’ day count convention. It is calculated by the Bulgarian National Bank after the conclusion of the business day and is displayed to two decimal places.

The information about :

  • Current Reference Rates
  • Reference Rates by Date
  • Current Contributor Quotes
  • Choose Reference Rates by Period and Maturity
  • Choose Contributor Quotes by Bank, Period and Maturity
  • Panel of Contributor Banks
  • Rules and Regulations for the Preparation of the Sofibor, Sofibid, Leonia Reference Rates is published on the web-site of the BNB