Nowa compounded index and averages
A Nowa compounded index and averages will be published from today on the Norges Bank website.
The purpose of offering such standardised calculations of periodic interest rates is to support the use of Nowa as a reference rate for financial products.
Historical index values and averages from 2 January 2020 to 29 April 2021 have also been published today. The compounded index and averages will thereafter be published every business day at 9 am, at the same time as publication of the previous day’s Nowa rate.
A proposed method of calculation was circulated for comment on 14 September 2020. Norges Bank received and took note of feedback on the proposal from the working group on alternative reference rates. The Nowa compounded index and averages have therefore been modified somewhat compared with the proposal.