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  • What is COFIX?
  • Calculation of COFIX
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What is COFIX?

COFIX, which stands for Cost of Funds Index, is calculated based on costs of funding information provided by 8 domestic banks (hereinafter Information Providers). Three different indices, “COFIX by Outstanding Balance”, “COFIX by Monthly Acquired New Funds”, and “Short-Term COFIX” are announced.

COFIX by Outstanding Balance : Weighted average of interest rates applied to the outstanding balance of funds in the index at the end of the month.

COFIX by Monthly Acquired New Funds : Weighted average of interest rates applied to monthly acquired new funds.

Short-Term COFIX : Weighted average of interest rates applied to weekly acquired new funds.

Information Providers
National Agricultural Cooperative Federation, Shinhan Bank, Woori Bank, Standard Chartered, KEB Hana Bank, Industrial Bank of Korea, Kookmin Bank, Citibank Korea

Funding Products Used for Index Calculation
Time Deposits, Regular Installment Savings, Mutual Funds, Household Savings, Certificates of Deposit, Repurchase Agreements (RPs), Cover Note Sales, Financial Bonds (excluding subordinated
bonds and convertible bonds)

However, the short-term COFIX is calculated based only on short-term products with 3-month maturities.

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