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DI Rate

Categoria — Rates
DI Rate (abbr. Depósitos Interfinansiros) is one of the three most common interest rates in Brazil (SELIC Target, SELIC Over, DI Rate). DI is an interbank deposit rate that is used as a benchmark for numerous banking transactions such as raising funds with the help of debt obligations, conducting credit operations, organizing financial investments (for example, DI funds). DI is most often used to form bond coupon payments.

The DI rate is calculated as the weighted average rate of interbank borrowings with a duration of one day and at a predetermined fixed rate, which are listed on the B3 exchange through the instrument of deposit certificates. The calculation excludes transactions carried out within banking conglomerates, as well as 5% of the highest and lowest yields. The resulting value is rounded to 2 decimal characters and published every day on the B3 exchange website.

The DI rate is calculated only if the number of such transactions exceeds 100 in one business day, and their volume exceeds R $ 30 billion. Otherwise, or if the rate was not published by the B3 exchange for other reasons, the daily rate value is equal to the Selic Over value. As noted earlier, the DI rate is often used to form floating coupon payments on bonds, examples of such bonds are:
Alcoeste Bioenergia Fernandopolis, FRN 3jan2024;
Aliansce, FRN 15sep2023.
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