Benchmark rates for the Japanese yen include TONA, TORF and TIBOR.
Benchmark rate
- Japanese
- 指標金利
- Last reviewed
- September 25, 2026
This is a draft, shown for review before publication.
A benchmark rate is an interest rate that an administrator calculates by a set method and publishes, so that loans, derivatives and other transactions can refer to it when setting interest or payment amounts.
Related terms
Explained in detail
Pages that use this term
- Business Day Conventions and Holiday Calendars
- The Multi-Curve Framework
- How Corporates Use Derivatives
- How Regional Banks Use Derivatives
- Forward Rate Agreements (FRA)
- Interest Rate Futures
- Interest Rate Swaps
- Basis Swaps
- Caps and Floors
- Range Accruals
- TONA
- TORF
- TIBOR
- SOFR
- €STR and SONIA
- Compounding in Arrears
- The Transition from LIBOR
- Fallbacks and Spread Adjustments
- Cross-Currency Swaps
- PRDC Notes
- Structured Loans
- Funds Transfer Pricing (FTP)
- Lifecycle Event Processing
- Lifecycle Event Data
- Identifiers: LEI, UTI, and UPI
- Mandatory Clearing
- Other Major Derivatives Losses
- The Orange County Investment Pool Loss (1994)