What is eonia?
Eonia is computed as a weighted average of all overnight unsecured lending transactions in the interbank market, undertaken in the European Union and European Free Trade Association countries by the Panel Banks. Eonia is a daily reference rate expressing the weighted average of unsecured overnight interbank lending in the E. Eonia (Euro Overnight Index Average) is computed as a weighted average of all overnight unsecured lending transactions in the interbank market, undertaken in. Eonia is short for Euro OverNight Index Average. The euro overnight index average (EONIA) is a daily reference rate, published by the European Money Markets Institute (EMMI), representative of the rate at which credit institutions in the EU lend overnight funds to each other in the unsecured money market in euro. EONIA®'s underlying interest is the rate at which banks of sound financial standing in the European Union (EU) and European Free Trade Area (EFTA).