Algorithm for setting BRIBID and BRIBOR

 

Algorithm for setting BRIBID and BRIBOR

  1. BRIBID and BRIBOR are calculated from quotations from the reference banks, using the current quotation rates given at 11:00 hours on the day in question.
     
  2. BRIBID and BRIBOR are set for the periods of 1 day, 7 days, 2 weeks and 1, 2, 3, 6, 9 and 12 months. BRIBID and BRIBOR are not set for any of the specified periods if less than three reference banks make quotations for such a period.
     
  3. BRIBID and BRIBOR are calculated as non-weighted arithmetic averages, leaving out of consideration the highest and the lowest value for each quoted period.
     
  4. The BRIBID and BRIBOR figures are rounded to two decimal places.
     
  5. The reference banks are obliged to release their quotation rates to the REUTERS web - sites whence these rates are automatically processed, and released by the REUTERS Agency at 11:00 a.m..
     
  6. The REUTERS Agency publishes the rates on its website BRIBOR 01 and Telerate Application (45712 Slovakia, 45713 BRIBOR), and the NBS on the NBSK 07 website in REUTERS, as soon as the rates are processed. The rates are also released in the daily newspapers on the following day.