New Treasuries 'repo' rate to replace Libor. The new rate will be based on live, actual transactions and published by the Federal Reserve Bank of New York in co-ordination with the Office In order to tide over temporary liquidity crunch, banks borrow from the Reserve Bank of India (RBI), against government securities. The rate at which the RBI lends money to banks, is known as the repo rate. The RBI reduced its repo rate by 0.25 per cent in its bi-monthly review of monetary policy on February 7, 2019. The repo rates of euro-denominated repo are typically compared to the EONIA swap rate. Figure 6 compares Eurepo, EURIBOR and the EONIA swap rate, both for a term of one month [1] . [1] ) The EONIA swap rate is the fixed rate of a fixed-against-floating money market interest rate swap, where the floating rate is refixed daily at EONIA.