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COFIX

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What is COFIX?

  • COFIX, which stands for Cost of Funds Index, is calculated based on the information on costs of funding provided by 8 domestic banks (hereinafter Information Providers). Four different indices, "COFIX on Monthly Acquired New Funds", "COFIX on Outstanding Balance", "New COFIX on Outstanding Balance" and "Short-Term COFIX" are announced.
    Information Providers
    Nonghyup Bank, Shinhan Bank, Woori Bank, Standard Chartered, KEB Hana Bank, Industrial Bank of Korea, Kookmin Bank, Citibank Korea
  • COFIX on Monthly Acquired New Funds
    Weighted average of interest rates applied to monthly acquired new funds.
  • COFIX on Outstanding Balance
    Weighted averaged interest rates applied to the outstanding balance of funds in the index at the end of the month.
  • Short-Term COFIX
    Weighted average of interest rates applied to weekly acquired new funds. The short-term COFIX is calculated based only on short-term products with 3-month maturities.
  • 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)
  • New COFIX on Outstanding Balance
    Like COFIX on Outstanding Balance, weighted average of interest rates applied to the outstanding balance of funds in the index at the end of the month. However, this index is calculated on the basis of available funds that bank can utilize as sources of loan.
  • Funding Products Used for Index Calculation(New COFIX on Outstanding Balance)
    TIME Deposits, Regular Installment Savings, Mutual Funds, Household Savings, Certificates of Deposit, Repurchase Agreements (Rps), Cover Note Sales, Financial Bonds, Inter-bank time deposits, Non-resident deposits, Subordinated bonds and Convertible bonds, etc.