You request use of funds from your agent bank for 1 day on an amount of EUR 100,000,000.00, EONIA was 0.812% and the ECB deposit facility rate is 0.50%. What use of funds settlement amount should you expect?
A) EUR 1,388,89
B) EUR 1,561.11
C) EUR 2,255.56
D) EUR 2,951.39

Question

Quizplus · Accepted Answer

The use of funds settlement amount can be calculated as follows:
(100,000,000 x (0.812% - 0.50%)) / 365 = 1,561.11 EUR
Therefore, the answer is B.

You Request Use of Funds from Your Agent Bank for 1