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srcset=\"https:\/\/finance-gfp.com\/wp-content\/uploads\/2017\/09\/tedspread202012.png 592w, https:\/\/finance-gfp.com\/wp-content\/uploads\/2017\/09\/tedspread202012-300x190.png 300w\" sizes=\"auto, (max-width: 592px) 100vw, 592px\" \/><\/p>\n<p>\u203b\u4e0a\u8a18\u30c1\u30e3\u30fc\u30c8\u306f\u6708\u6b21\u30c7\u30fc\u30bf\u306b\u3088\u308a\u4f5c\u6210\u3002\u65e5\u6642\u30c7\u30fc\u30bf\u3067\u306f2008\u5e7410\u670810\u65e5\u306b4.63\uff05\u307e\u3067TED\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u62e1\u5927\u3057\u305f\u3002<\/p>\n<h2>LIBOR\u306e\u4ee3\u66ff\u5019\u88dc\uff08\u7c73\u56fd\u30fb\u65e5\u672c\u30fb\u82f1\u56fd\u30fb\u30b9\u30a4\u30b9\u30fb\u30e6\u30fc\u30ed\u570f\uff09<\/h2>\n<p>\u5404\u56fd\u306e\u4e2d\u592e\u9280\u884c\u3054\u3068\u306b\u305d\u308c\u305e\u308c\u72ec\u81ea\u3067LIBOR\u306e\u4ee3\u66ff\u5019\u88dc\u3092\u691c\u8a0e\u3057\u3001\u4e0b\u8a18\u306e\u91d1\u5229\u304c\u6709\u529b\u8996\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7c73\u56fd\uff08FRB\uff09\uff1a\u62c5\u4fdd\u4ed8\u304d\u7fcc\u65e5\u7269\u9280\u884c\u8abf\u9054\u91d1\u5229\uff08SOFR\uff1a\u30bd\u30d5\u30a1\uff1aSecured Overnight Financing Rate\uff09<\/li>\n<li>\u65e5\u672c\uff08\u65e5\u9280\uff09\uff1a\u6771\u4eac\u30bf\u30fc\u30e0\u7269\u30ea\u30b9\u30af\u30fb\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\uff08TORF\uff1a\u30c8\u30fc\u30d5\uff1aTokyo Term Risk Free Rate\uff09<\/li>\n<li>\u82f1\u56fd\uff08BOE\uff09\uff1a\u30dd\u30f3\u30c9\u7fcc\u65e5\u7269\u5e73\u5747\u91d1\u5229\uff08SONIA\uff1a\u30bd\u30cb\u30a2\uff1aSterling Overnight Index Average\uff09<\/li>\n<li>\u30b9\u30a4\u30b9\uff08\u30b9\u30a4\u30b9\u56fd\u7acb\u9280\u884c\uff09\uff1a\u30b9\u30a4\u30b9\u7fcc\u65e5\u7269\u5e73\u5747\u91d1\u5229\uff08SARON\uff1a\u30b5\u30ed\u30f3\uff1aSwiss Average Rate OverNight\uff09<\/li>\n<li>\u30e6\u30fc\u30ed\u5708\uff08ECB\uff09\uff1a\u30e6\u30fc\u30ed\u77ed\u671f\u91d1\u5229\uff08ESTR\uff1a\u30a8\u30b9\u30bf\u30fc\uff1aEuro Short-Term Rate\uff09<\/li>\n<\/ul>\n<p>\u7c73\u56fd\u306eSOFA\u306f\u300cSecured Overnight Financing Rate\u300d\u306e\u7565\u3067\u3059\u3002\u91d1\u878d\u6a5f\u95a2\u540c\u58eb\u3067\u53d6\u5f15\u3055\u308c\u308b\u7c73\u56fd\u50b5\u3092\u62c5\u4fdd\u306b\u3057\u305f\u7fcc\u65e5\u7269\u306e\u30ec\u30dd\u91d1\u5229\u3092\u3082\u3068\u306b\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002<\/p>\n<p>\u65e5\u672c\u306f\u300c\u6771\u4eac\u30bf\u30fc\u30e0\u7269\u30ea\u30b9\u30af\u30fb\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\uff08TORF\uff1a\u30c8\u30fc\u30d5\uff09\u300d\u3092\u63a1\u7528\u3059\u308b\u3053\u3068\u304c\u6709\u529b\u8996\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u30bf\u30fc\u30e0\u7269\u306e\u30ea\u30b9\u30af\u30fb\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\u3067\u3001\u65e5\u672c\u5186\u306e\u7fcc\u65e5\u7269\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\uff08OIS\uff09\u53d6\u5f15\u306e\u5e02\u5834\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u3066\u7b97\u51fa\u3057\u307e\u3059\u3002\u91d1\u5229\u306e\u9069\u7528\u958b\u59cb\u6642\u70b9\u306b\u304a\u3044\u3066\u3001\u524d\u3082\u3063\u3066\u9069\u7528\u91d1\u5229\u304c\u78ba\u5b9a\u3059\u308b\u300c\u524d\u6c7a\u3081\u300d\u65b9\u5f0f\u3067\u3042\u308b\u3053\u3068\u304c\u7279\u5fb4\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u7fcc\u65e5\u7269\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\uff08OIS\uff09\u3092\u4f7f\u3046\u3053\u3068\u3067LIBOR\u3068\u6bd4\u8f03\u3057\u3066\u5185\u5305\u3059\u308b\u91d1\u878d\u6a5f\u95a2\u306e\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u6975\u3081\u3066\u5c0f\u3055\u304f\u306a\u308a\u307e\u3059\u3002\u4f8b\u3048\u30706\u30f6\u6708\u7269\u306e\u300c\u6771\u4eac\u30bf\u30fc\u30e0\u7269\u30ea\u30b9\u30af\u30fb\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\uff08TORF\uff1a\u30c8\u30fc\u30d5\uff09\u300d\u306b\u304a\u3044\u3066\u306f\u7121\u62c5\u4fdd\u30b3\u30fc\u30eb\u7fcc\u65e5\u7269\u3092\u30d9\u30fc\u30b9\u306b\u671f\u95936\u30f6\u6708\u306e\u30b9\u30ef\u30c3\u30d7\u3092\u884c\u3046\u3088\u3046\u306a\u5f62\u3068\u306a\u308a\u307e\u3059\u3002\u30b9\u30ef\u30c3\u30d7\u306f\u5143\u672c\u306e\u4ea4\u63db\u304c\u767a\u751f\u3057\u306a\u3044\u306e\u3067<span class=\"ymarker-s\">\u91d1\u878d\u6a5f\u95a2\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u306f\u7fcc\u65e5\u7269\u90e8\u5206\u306e\u307f<\/span>\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7fcc\u65e5\u7269\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\uff08OIS\uff09\u306b\u3064\u3044\u3066\u306f\u3053\u3061\u3089\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=4337\" target=\"_blank\" rel=\"noopener noreferrer\">OIS(Overnight Index Swap)\u30ec\u30fc\u30c8\u306b\u3064\u3044\u3066\u306e\u5206\u304b\u308a\u3084\u3059\u3044\u8aac\u660e<\/a><\/li>\n<\/ul>\n<p><span class=\"ymarker-s\">\u5404\u56fd\u3054\u3068\u306b\u691c\u8a0e\u3057\u3066\u3044\u308b\u3053\u3068\u304b\u3089\u3001\u7c73\u56fd\u304c\u5019\u88dc\u3068\u3057\u3066\u3044\u308b\u91d1\u5229\u304c\u6709\u62c5\u4fdd\u306e\u53d6\u5f15\u91d1\u5229\u3067\u3042\u308b\u306e\u306b\u5bfe\u3057\u3001\u65e5\u672c\u306f\u7121\u62c5\u4fdd\u53d6\u5f15\u306e\u91d1\u5229\u3092\u5019\u88dc\u3068\u3057\u3066\u3044\u308b\u306a\u3069\u3001\u57fa\u6e96\u304c\u30d0\u30e9\u30d0\u30e9\u3067\u5c06\u6765\u3001\u76f8\u5bfe\u6bd4\u8f03\u3092\u3059\u308b\u969b\u306b\u554f\u984c\u304c\u51fa\u308b\u61f8\u5ff5\u3082\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<p><span class=\"ymarker-s\">\u307e\u305f\u3001LIBOR\u306e\u512a\u308c\u3066\u3044\u308b\u3068\u3053\u308d\u306f1\u5e74\u4ee5\u5185\u306e\u69d8\u3005\u306a\u671f\u9593\u306e\u30ec\u30fc\u30c8\u304c\u63d0\u4f9b\u3055\u308c\u308b\u70b9\u3067\u3059\u3002<\/span><\/p>\n<p><span class=\"ymarker-s\">\u7fcc\u65e5\u7269\u304b\u30891\u5e74\u7269\u307e\u3067\u306e\u30c7\u30fc\u30bf\u3092\u7c21\u5358\u306b\u53d6\u5f97\u3067\u304d\u308b\u70b9\u3067\u306f\u975e\u5e38\u306b\u4f7f\u3044\u52dd\u624b\u304c\u826f\u3044\u6307\u6a19\u3067\u3059\u3002<\/span><\/p>\n<p><span class=\"ymarker-s\">\u3055\u3089\u306b\u3001\u901a\u8ca8\u304c\u7570\u306a\u3063\u3066\u3082\u3001\u5168\u3066\u9280\u884c\u9593\u7121\u62c5\u4fdd\u30ec\u30fc\u30c8\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u7570\u306a\u308b\u901a\u8ca8\u306eLIBOR\u306e\u91d1\u5229\u5dee\u304c\u70ba\u66ff\u30d8\u30c3\u30b8\u30b3\u30b9\u30c8\u306e\u8a08\u7b97\u7b49\u306b\u4f7f\u3048\u308b\u70b9\u3067\u3082\u91cd\u5b9d\u3055\u308c\u307e\u3057\u305f\uff61<\/span><\/p>\n<p>\u4f8b\u3048\u3070\u7c73\u30c9\u30eb\u3092\u5186\u30d8\u30c3\u30b8\u3059\u308b\u5834\u5408\u306f\u7c73\u30c9\u30eb3\u30f6\u6708LIBOR\u91d1\u5229\u3068\u51863\u30f6\u6708LIBOR\u306e\u91d1\u5229\u306e\u5dee\u3067\u5186\u30d8\u30c3\u30b8\u30b3\u30b9\u30c8\u306e\u5927\u90e8\u5206\u3092\u8aac\u660e\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\uff08\u5b9f\u969b\u306b\u306f\u3053\u308c\u306b\u30d9\u30fc\u30b7\u30b9\u30b3\u30b9\u30c8\u3082\u8003\u616e\u3057\u307e\u3059\uff09<\/p>\n<ul>\n<li>\u30d8\u30c3\u30b8\u30b3\u30b9\u30c8\u306e\u8a08\u7b97\u306b\u3064\u3044\u3066\u306f\u3053\u3061\u3089\u3092\u53c2\u7167\uff1a<a href=\"https:\/\/finance-gfp.com\/?p=1828\" target=\"_blank\" rel=\"noopener noreferrer\">\u30d8\u30c3\u30b8\u30b3\u30b9\u30c8\u306f\u91d1\u5229\u5dee\u3068\u30d9\u30fc\u30b7\u30b9\uff08\u30c9\u30eb\u9700\u8981\uff09\u3067\u6c7a\u307e\u308b<\/a><\/li>\n<\/ul>\n<p>\u3053\u306e\u3088\u3046\u306a\u5229\u70b9\u3092\u4eca\u5f8c\u3082\u7d99\u7d9a\u3067\u304d\u308b\u30b7\u30b9\u30c6\u30e0\u306b\u306a\u308b\u3053\u3068\u3092\u671f\u5f85\u3057\u305f\u3044\u3068\u3053\u308d\u3067\u3059\u3002<\/p>\n<p><span class=\"ymarker-s\">\u307e\u305f\u3001LIBOR\u304b\u3089\u4ee3\u66ff\u91d1\u5229\u306b\u5909\u66f4\u3055\u308c\u308b\u3053\u3068\u3067\u91d1\u5229\uff08\u30b9\u30d7\u30ec\u30c3\u30c9\uff09\u306e\u8abf\u6574\u304c\u5fc5\u8981\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>\u4e0a\u8a18\u3067\u5019\u88dc\u306b\u6319\u3052\u3089\u308c\u3066\u3044\u308b\u4ee3\u66ff\u91d1\u5229\u306f\u5185\u5305\u3055\u308c\u308b\u91d1\u878d\u6a5f\u95a2\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u304c\u7fcc\u65e5\u307e\u3067\u306e1\u65e5\u5206\u3068\u306a\u308a\u307e\u3059\u3002TORF\u3067\u306f3\u30f6\u6708\u7269\u91d1\u5229\u3067\u3082\u91d1\u878d\u6a5f\u95a2\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u306f1\u65e5\u5206\u306e\u307f\u3067\u3059\u3002<\/p>\n<p>\u4e00\u65b9\u3001\u4f8b\u3048\u30703\u30f6\u6708LIBOR\u3067\u3042\u308c\u3070\u91d1\u878d\u6a5f\u95a2\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u304c3\u30f6\u6708\u5206\u5185\u5305\u3055\u308c\u3066\u3044\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u305d\u306e\u305f\u3081\u3001\u73fe\u5728\u3001LIBOR\u3092\u4f7f\u7528\u3057\u3066\u3044\u308b\u53d6\u5f15\u306b\u3064\u3044\u3066\u3001\u4ee3\u66ff\u91d1\u5229\u306b\u5909\u66f4\u3059\u308b\u3068\u91d1\u5229\u306e\u6761\u4ef6\u3092\u8abf\u6574\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u70b9\u306b\u3064\u3044\u3066\u306f\u91d1\u878d\u5f53\u5c40\u304b\u3089\u4f55\u3089\u304b\u306e\u6307\u91dd\u304c\u63d0\u4f9b\u3055\u308c\u308b\u3068\u601d\u3044\u307e\u3059\u306e\u3067\u3001\u305d\u308c\u306b\u5f93\u3046\u3053\u3068\u306b\u306a\u308b\u3068\u601d\u308f\u308c\u307e\u3059\u3002<\/p>\n<h2>TIBOR\u306f\u5ec3\u6b62\u3055\u308c\u305a\u306b\u6b8b\u308b\u898b\u901a\u3057\u3060\u304c<\/h2>\n<p>TIBOR\u306fLIBOR\u306e\u6771\u4eac\u5e02\u5834\u7248\u3067\u3059\u3002<\/p>\n<p>TIBOR\u306f\u300cTokyo Interbank Offered Rate\u300d\u306e\u7565\u3067\u3059\u3002<\/p>\n<p>\u57fa\u672c\u7684\u306a\u4ed5\u7d44\u307f\u306f\u540c\u3058\u3067\u3042\u308b\u305f\u3081LIBOR\u3068\u540c\u69d8\u306b\u4e0d\u6b63\u304c\u884c\u308f\u308c\u308b\u53ef\u80fd\u6027\u304c\u30bc\u30ed\u3067\u306f\u306a\u304f\u3001\u900f\u660e\u6027\u306b\u554f\u984c\u304c\u6b8b\u308a\u307e\u3059\uff61<\/p>\n<p>\u4eca\u306e\u3068\u3053\u308dTIBOR\u304c\u5ec3\u6b62\u3055\u308c\u308b\u3068\u3044\u3046\u5831\u9053\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001LIBOR\u304c\u5ec3\u6b62\u3055\u308c\u305f\u5f8c\u306e\u4ee3\u66ff\u6307\u6a19\u3068\u3057\u3066\u56fd\u969b\u7684\u306b\u4f7f\u308f\u308c\u308b\u3053\u3068\u306f\u306a\u3044\u3068\u601d\u308f\u308c\u307e\u3059\u3002<\/p>\n<p>\u3061\u306a\u307f\u306bTIBOR\u306f\u900f\u660e\u6027\u3092\u9ad8\u3081\u308b\u305f\u3081\u306b2017\u5e747\u6708\u306b\u7b97\u51fa\u65b9\u6cd5\u304c\u898b\u76f4\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<h2>LIBOR\u306e\u95a2\u9023\u30da\u30fc\u30b8<\/h2>\n<p>\u9577\u671f\u306e\u30a4\u30f3\u30bf\u30fc\u30d0\u30f3\u30af\u91d1\u5229\u3067\u3042\u308b\u30b9\u30ef\u30c3\u30d7\u30ec\u30fc\u30c8\u306b\u3064\u3044\u3066\u306f\u3053\u3061\u3089\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\uff01<\/p>\n<ul>\n<li><a href=\"https:\/\/finance-gfp.com\/?p=1360\" target=\"_blank\" rel=\"noopener noreferrer\">\u7c73\u30c9\u30eb10\u5e74\u30b9\u30ef\u30c3\u30d7\u30ec\u30fc\u30c8\u304c10\u5e74\u56fd\u50b5\u5229\u56de\u308a\u3088\u308a\u4f4e\u304f\u306a\u308b\u73fe\u8c61\u304c\u767a\u751f<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u3061\u3089\u306e\u30da\u30fc\u30b8\u3067\u306f\u300cLIBOR\u300d\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002 \u300cLIBOR\u300d\u306f\u5ec3\u6b62\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3057\u305f &#8230; 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