Interbank Overnight Cash Rate definition
Interbank Overnight Cash Rate means, where Products are despatched or Services delivered by Baxter in Australia, that rate as set by the Reserve Bank of Australia and, where Products are despatched or Services delivered in NZ, that rate as set by the Reserve Bank of New Zealand;
Examples of Interbank Overnight Cash Rate in a sentence
The Customer will pay JJM interest on all overdue amounts calculated daily from the due date for payment at the rate which is 4% above the Reserve Bank of Australia’s Interbank Overnight Cash Rate.