Mutan rate explained

The Mutan interest rate is the un-collateralized overnight call rate in Japan. It is the reference rate for JPY overnight unsecured transactions in the Japanese market. It was launched in July 1985^[1] and it is the main tool for the transmission of the Bank of Japan's monetary policy. Mutan rate and TONA rate are the same things.

Publication

Bank of Japan publishes a provisional rate, rounded to three decimal places,^[2] every business day around 17:15 JST (or 18:15 JST for the last business day of the month).^[3] A final result is published the following business day around 10:00 JST. The results published contain weighted-average, highest, and lowest rate during the business day.^[4]

See also

• EONIA
• SONIA
• SARON
• Federal funds rate
• Interbank lending market

External links

• Bank of Japan

Notes and References

1. https://www.stat-search.boj.or.jp/ssi/mtshtml/fm02_m_1_en.html BOJ's Main Time-series Statistics
2. Web site: Change in the smallest tick in uncollateralized overnight call rate . . 25 June 2012 . 6 September 2001 .
3. Web site: Revision of the publication of "Uncollateralized overnight call rates (average) . . 25 June 2012 . 6 September 2002 .
4. Web site: Release of the Data Related to the Bank's Operations and Uncollateralized Overnight Call Rate . . 25 June 2012 . 6 May 2004 .