Cost of Funds Index (CoFI) of the Non Bank Financial Institutions.
|Particulars||Apr, 2021||May, 2021||Jun, 2021||Jul, 2021||Aug, 2021||Sep, 2021||Oct, 2021||Nov, 2021||Dec, 2021||Jan, 2022||Feb, 2022||Mar, 2022||Apr, 2022|
|Cost of funds||6.94||6.66||6.64||6.5||6.51||6.48||6.37||6.46||6.53||6.47||6.59||6.39||6.65|
|Adjusted Cost of funds||7.97||7.64||7.59||7.45||7.47||7.43||7.31||7.41||7.48||7.42||7.54||7.34||7.62|
Cost of Funds is the weighted average interest rate of the interest-bearing liabilities of a non bank financial institution. Cost of Funds Index (CoFI) reflects the weighted average interest rate reported for a given month by the non bank financial institutions.
There are two computation of cost of funds; one is for all the interest-bearing funds and the other is for the interest-bearing funds excluding the low-cost specific purpose scheme funds (adjusted cost of funds).
CoFI serves as the reference rate for pricing the variable interest loan products. In setting the variable interest rate of a new loan, NBFIs will add margin to the industry CoFI or Adjusted CoFI . Bangladesh Bank issued guidelines on the Base Rate System for the NBFIs through DFIM Circular No.-06, dated- 20 August 2013. The guidelines provide more details on the CoFI.