Australian bank bill-OIS spread (3 months)
The premium banks pay to borrow for three months over the expected cash rate.
- Latest
- 0 bp
- Previous
- 3 bp
- Change
- −3 bp
- Frequency
- Daily
Calculated by Take Profits
Spread = (3-month bank bill rate − 3-month overnight indexed swap rate) × 100, same day (basis points). The inputs are the official series listed under Sources; the result is not published by the source in this form.
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Australian bank bill-OIS spread (3 months)
The premium banks pay to borrow for three months over the expected cash rate.
- Bank bill-OIS spread
- 0 bp
Data table
| Period | Bank bill-OIS spread | Source value (FIRMMBAB90D − FIRMMOIS3D) |
|---|---|---|
| 1 Dec 2022 | 0 bp | 3.04 − 3.04 |
| 30 Nov 2022 | 3 bp | 3.07 − 3.04 |
| 29 Nov 2022 | 2 bp | 3.08 − 3.06 |
| 28 Nov 2022 | 1 bp | 3.07 − 3.06 |
| 25 Nov 2022 | 4 bp | 3.11 − 3.07 |
| 24 Nov 2022 | 2 bp | 3.09 − 3.07 |
| 23 Nov 2022 | 6 bp | 3.12 − 3.06 |
| 22 Nov 2022 | 3 bp | 3.07 − 3.04 |
| 21 Nov 2022 | 3 bp | 3.07 − 3.04 |
| 18 Nov 2022 | 2 bp | 3.05 − 3.03 |
| 17 Nov 2022 | 2 bp | 3.04 − 3.02 |
| 16 Nov 2022 | 7 bp | 3.07 − 3 |
About this indicator
- What it measures
- The 3-month bank bill rate minus the 3-month overnight indexed swap (OIS) rate. OIS reflects the cash rate expected over the three months, so the gap is mostly bank credit and funding risk.
- How it is calculated
- Calculated by us from RBA table F1 for each day both rates are available, in basis points (1 basis point = 0.01 percentage points).
- How to read it
- Usually a small positive number. It widens sharply when banks are reluctant to lend to each other, as in 2008 and March 2020.
- Caveats
- End-of-day rates can be affected by quarter-end and other technical factors.
- Frequency
- Daily
- Typical release
- Each business day in RBA table F1.
Sources
- EOD 3-month BABs/NCDs View at the source (opens in a new tab)
- 3-month OIS View at the source (opens in a new tab)
Recent observations
Newest first. For a calculated figure, the source value it comes from is shown beside it.
| Period | Bank bill-OIS spread | Source value (FIRMMBAB90D − FIRMMOIS3D) | First recorded here |
|---|---|---|---|
| 1 Dec 2022 | 0 bp | 3.04 − 3.04 | 20 Oct 2026 |
| 30 Nov 2022 | 3 bp | 3.07 − 3.04 | 20 Oct 2026 |
| 29 Nov 2022 | 2 bp | 3.08 − 3.06 | 20 Oct 2026 |
| 28 Nov 2022 | 1 bp | 3.07 − 3.06 | 20 Oct 2026 |
| 25 Nov 2022 | 4 bp | 3.11 − 3.07 | 20 Oct 2026 |
| 24 Nov 2022 | 2 bp | 3.09 − 3.07 | 20 Oct 2026 |
| 23 Nov 2022 | 6 bp | 3.12 − 3.06 | 20 Oct 2026 |
| 22 Nov 2022 | 3 bp | 3.07 − 3.04 | 20 Oct 2026 |
| 21 Nov 2022 | 3 bp | 3.07 − 3.04 | 20 Oct 2026 |
| 18 Nov 2022 | 2 bp | 3.05 − 3.03 | 20 Oct 2026 |
| 17 Nov 2022 | 2 bp | 3.04 − 3.02 | 20 Oct 2026 |
| 16 Nov 2022 | 7 bp | 3.07 − 3 | 20 Oct 2026 |
| 15 Nov 2022 | 6 bp | 3.06 − 3 | 20 Oct 2026 |
| 14 Nov 2022 | 4 bp | 3.03 − 2.99 | 20 Oct 2026 |
| 11 Nov 2022 | 4 bp | 3.02 − 2.98 | 20 Oct 2026 |
| 10 Nov 2022 | 4 bp | 3.02 − 2.98 | 20 Oct 2026 |
| 9 Nov 2022 | 6 bp | 3.05 − 2.99 | 20 Oct 2026 |
| 8 Nov 2022 | 7 bp | 3.06 − 2.99 | 20 Oct 2026 |
| 7 Nov 2022 | 9 bp | 3.07 − 2.98 | 20 Oct 2026 |
| 4 Nov 2022 | 7 bp | 3.04 − 2.97 | 20 Oct 2026 |
| 3 Nov 2022 | 8 bp | 3.06 − 2.98 | 20 Oct 2026 |
| 2 Nov 2022 | 9 bp | 3.06 − 2.97 | 20 Oct 2026 |
| 1 Nov 2022 | 2 bp | 2.98 − 2.96 | 20 Oct 2026 |
| 31 Oct 2022 | 6 bp | 3.08 − 3.02 | 20 Oct 2026 |
Revisions
We record a revision when a value we already hold changes at the source. Tracking began on 20 Oct 2026, so revisions made before then are not shown, and figures are in the source's own units.
No revisions detected
No stored value has changed since tracking began.
Related indicators
Australia · Financial stress