Bank Bill Rate
The Bank Bill Rate is a define term in the Market Rules. It is the rate set by the IMO based on an industry standard market indicator, details of which must be published by the IMO. The Bank Bill Rate is set:
- at approximately 10:00am on any given Business Day to apply for that day; or
- if the relevant day is not a Business Day, or the IMO does not set a rate for that day, on the previous Business Day on which a rate was set under paragraph (a).
The following Market Rules reference the Bank Bill Rate:
- 2.28.5. Where Credit Support is provided as a Security Deposit in accordance with clause 2.38.4(b), it will accrue interest daily at the Bank Bill Rate, and the IMO must pay the Market Participant or Network Operator the interest accumulated at the end of each calendar month less any liabilities and expenses incurred by the IMO including abnk fees and charges.
- 9.1.3. Where these Market Rules indicate interest is payable on an amount, interest accrues daily at the Bank Bill Rate from (and including) the date that payment was due up to (but excluding) the date of payment, or in the case of an adjusted Settlement Statement provided under clause 9.19 from (and including) the payment due date for the Invoice issued for the original Settlement Statement up to (but excluding) the actual date of payment for the Invoice issued for the adjusted Settlement Statement.
Basis for Determining Bank Bill Rate
As detailed in the Investment Policy described below, the Bank Bill Rate is derived from the Bank Bill Swap reference Rate (Reuters Page BBSW ) for the relevant term. The relevant term is one calendar month, where the rate is set on the last business day of the preceding month, and will apply from the following day up to and including the last business day of the following month.
| Date From | Date To | Bank Bill Rate |
|---|---|---|
| 1 May 2013 | 31 May 2013 | 3.01% |
| 29 Mar 2013 | 30 Apr 2013 | 3.03% |
| 01 Mar 2013 | 28 Mar 2013 | 3.00% |
| 01 Feb 2013 | 28 Feb 2013 | 3.04% |
| 29 Dec 2012 | 31 Jan 2013 | 3.11% |
| 01 Dec 2012 | 28 Dec 2012 | 3.29% |
| 01 Nov 2012 | 30 Nov 2012 | 3.22% |
| 29 Sep 2012 | 31 Oct 2012 | 3.50% |
| 01 Sep 2012 | 28 Sep 2012 | 3.63% |
| 01 Aug 2012 | 31 Aug 2012 | 3.58% |
| 30 Jun 2012 | 31 Jul 2012 | 3.58% |
| 01 Jun 2012 | 29 Jun 2012 | 3.64% |
| 01 May 2012 | 31 May 2012 | 4.10% |
| 31 Mar 2012 | 30 Apr 2012 | 4.34% |
| 01 Mar 2012 | 30 Mar 2012 | 4.40% |
| 01 Feb 2012 | 29 Feb 2012 | 4.35% |
| 31 Dec 2011 | 31 Jan 2012 | 4.50% |
| 01 Dec 2011 | 30 Dec 2011 | 4.71% |
| 01 Nov 2011 | 30 Nov 2011 | 4.79% |
| 01 Oct 2011 | 31 Oct 2011 | 4.87% |
| 01 Sep 2011 | 30 Sep 2011 | 4.82% |
| 30 July 2011 | 31 Aug 2011 | 4.85% |
| 01 July 2011 | 29 July 2011 | 4.91% |
| 01 Jun 2011 | 30 Jun 2011 | 4.83% |
| 30 Apr 2011 | 31 May 2011 | 4.83% |
| 01 Apr 2011 | 29 Apr 2011 | 4.81% |
| 01 Mar 2011 | 31 Mar 2011 | 4.79% |
| 01 Feb 2011 | 28 Feb 2011 | 4.78% |
| 25 Dec 2010 | 31 Jan 2011 | 4.82% |
| 01 Dec 2010 | 24 Dec 2010 | 4.81% |
| 30 Oct 2010 | 30 Nov 2010 | 4.63% |
| 01 Oct 2010 | 29 Oct 2010 | 4.65% |
| 01 Sep 2010 | 30 Sep 2010 | 4.59% |
| 31 July 2010 | 31 Aug 2010 | 4.63% |
| 01 July 2010 | 30 July 2010 | 4.70% |
| 01 Jun 2010 | 30 Jun 2010 | 4.63% |
| 01 May 2010 | 31 May 2010 | 4.40% |
| 31 Mar 2010 | 30 Apr 2010 | 4.17% |
| 27 Feb 2010 | 30 Mar 2010 | 3.95% |
| 30 Jan 2010 | 26 Feb 2010 | 4.07% |
| 23 Dec 2009 | 29 Jan 2010 | 3.95% |
| 01 Dec 2009 | 22 Dec 2009 | 3.88% |
| 31 Oct 2009 | 30 Nov 2009 | 3.59% |
| 01 Oct 2009 | 30 Oct 2009 | 3.23% |
| 01 Sep 2009 | 30 Sep 2009 | 3.14% |
| 01 Aug 2009 | 31 Aug 2009 | 3.08% |
| 01 July 2009 | 31 July 2009 | 3.10% |
| 01 June 2009 | 30 June 2009 | 3.15% |
| 01 May 2009 | 31 May 2009 | 3.05% |
| 01 April 2009 | 30 April 2009 | 3.17% |
| 28 Februry 2009 | 31 March 2009 | 3.12% |
| 31 January 2009 | 27 Februry 2009 | 3.77% |
| 24 December 2008 | 30 January 2009 | 4.24% |
| 01 December 2008 | 23 December 2008 | 4.60% |
| 01 November 2008 | 30 November 2008 | 5.88% |
| 01 October 2008 | 31 October 2008 | 7.33% |
| 30 August 2008 | 30 September 2008 | 7.21% |
| 01 August 2008 | 29 August 2008 | 7.47% |
| 01 July 2008 | 31 July 2008 | 7.56% |
| 31 May 2008 | 30 June 2008 | 7.45% |
| 01 May 2008 | 30 May 2008 | 7.52% |
| 01 April 2008 | 30 April 2008 | 7.63% |
| 01 March 2008 | 31 March 2008 | 7.47% |
| 01 February 2008 | 29 February 2008 | 7.15% |
| 01 January 2008 | 31 January 2008 | 7.08% |
| 01 December 2007 | 31 December 2007 | 6.89% |
| 01 November 2007 | 30 November 2007 | 6.73% |
| 29 September 2007 | 31 October 2007 | 6.70% |
| 01 September 2007 | 28 September 2007 | 6.80% |
| 01 August 2007 | 31 August 2007 | 6.45% |
| 30 June 2007 | 31 July 2007 | 6.27% |
| 01 June 2007 | 29 June 2007 | 6.29% |
| 01 May 2007 | 31 May 2007 | 6.28% |
| 01 April 2007 | 30 April 2007 | 6.41% |
| 01 March 2007 | 31 March 2007 | 6.27% |
| 30 January 2007 | 28 February 2007 | 6.29% |
| 01 January 2007 | 29 January 2007 | 6.32% |
| 01 December 2006 | 31 December 2006 | 6.29% |
| 01 November 2006 | 30 November 2006 | 6.23% |
| 01 October 2006 | 31 October 2006 | 6.04% |
Bank Bill Rate - Current and Past
Investment Policy
Market Participants are required to provide various forms of security. Credit Support is required to provide prudential support for the operational exposure of Market Participants to the market, while Reserve Capacity Security is required for projects that have been assigned Capacity Credits and which are under construction, or in development.
In each case, Participants may provide prudential support in the form of Security Deposits. Under clause 2.38.5 and 4.13.6 of the Market Rules the IMO must pay the Market Participant or the Network Operator as applicable the interest accumulated on the deposit less any liabilities and expenses incurred by the IMO, including bank fees and charges. Market Rule 4.13.6 refers to the IMO Deposit Rate which is discussed in the Investment Policy.
Investment Policy [31kB]
This Investment Policy indicates the basis for setting the Bank Bill Rate and also outlines the IMO's policy with respect to investment of Security Deposit funds.
This document is published in accordance with Market Rule 10.5.1 (d) and the Glossary.