OIS
- Japanese
- OIS
- Also known as
- Overnight index swap
- Last reviewed
- September 24, 2026
This is a draft, shown for review before publication.
The OIS (overnight index swap) is an interest rate swap that exchanges a fixed rate for a floating rate calculated by compounding the overnight rate over a set period. A Japanese yen OIS references the uncollateralized overnight call rate, and its fixed rate is called the OIS rate.
Related terms
Explained in detail
Pages that use this term
- Day Count Conventions
- Business Day Conventions and Holiday Calendars
- The Multi-Curve Framework
- How Swaps Work
- Forward Rate Agreements (FRA)
- Interest Rate Swaps
- Valuing an Interest Rate Swap
- Basis Swaps
- Caps and Floors
- Swaptions
- What Is a Benchmark Rate?
- TONA
- TORF
- TIBOR
- SOFR
- Compounding in Arrears
- Lookback, Lockout and Payment Delay
- The Transition from LIBOR
- Covered Interest Parity and FX Forward Points
- Collateral and Discounting
- Mandatory Clearing
- Clearing, Reporting, and Trade Execution Requirements