EURIBOR - Revision history

Doug: Update for EONIA discontinuance.

2025-03-03T19:02:49Z

Update for EONIA discontinuance.

← Older revision		Revision as of 19:02, 3 March 2025
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	* [[Bloomberg]]		* [[Bloomberg]]
	* [[Contract]]		* [[Contract]]
	* [[EONIA]]
	* [[€STR]]		* [[€STR]]
	* [[Euro LIBOR]]		* [[Euro LIBOR]]
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	*[https://www.emmi-benchmarks.eu/benchmarks/euribor/methodology/ EURIBOR methodology - European Money Markets Institute (EMMI)]		*[https://www.emmi-benchmarks.eu/benchmarks/euribor/methodology/ EURIBOR methodology - European Money Markets Institute (EMMI)]
	*[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]		*[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]

	~~[[Category:Accounting,_tax_and_regulation]]~~
	~~[[Category:Manage_risks]]~~
	~~[[Category:The_business_context]]~~

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
	[[Category:Manage_risks]]		[[Category:Manage_risks]]
	[[Category:The_business_context]]		[[Category:The_business_context]]

Doug: Remove surplus text & update methodology.

2024-02-10T10:32:58Z

Remove surplus text & update methodology.

← Older revision		Revision as of 10:32, 10 February 2024
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	(Euro Interbank Offered Rate).		(Euro Interbank Offered Rate).

	Sponsored by the European Money Markets Institute ([https://www.emmi-benchmarks.eu/ EMMI]), EURIBOR® is a ~~formal benchmark or~~ reference interest rate launched in 1998.		Sponsored by the European Money Markets Institute ([https://www.emmi-benchmarks.eu/ EMMI]), EURIBOR® is a reference interest rate launched in 1998.


	It estimates the all-in, simple interest rate (including credit premium and liquidity premium) at which euro denominated interbank term deposits for spot value (T+2) are offered within the euro-zone by one prime bank to another prime bank in the period before 10.45 [[CET]] each business morning.

	~~EURIBOR is calculated for periods ranging from one day to one year. It is quoted to three decimal places and on an actual/360 day-count~~.


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			The EURIBOR process is overseen by a [http://www.euribor-ebf.eu/euribor-org/steering-committee.html Steering Committee].
	~~'''Contributing rate estimates'''~~

	~~Since 2013, a panel of banks contribute to the Euribor.~~ The ~~panel is made up of:~~

	* Banks from EU countries participating in the euro from the outset.
	* Banks from EU countries not participating in the euro from the outset.
	* Large international banks from non-EU countries but with important euro zone operations.


	The banks submit their estimate, to two decimal places, of the rate "at which euro interbank term deposits are being offered within the Eurozone by one prime bank to another at 11 am Brussels time" ("the best price between the best banks").

	~~This is similar to the question for [[LIBOR]] contributing banks prior to reform of LIBOR in 1998 to improve accountability of contributing banks for the submitted rate.~~

	~~EMMI publishes a [http://www.euribor-ebf.eu/assets/files/Euribor_code_conduct.pdf code of conduct] for contributing banks.~~


	~~'''Euribor calculation'''~~

	~~In calculating the Euribor from the submitted rates, the highest and lowest 15% of submitted rates are ignored and the central 70% remaining is averaged and published to 3 decimal places.~~

	~~Thomson Reuters is the screen service provider responsible for computing and also publishing Euribor.~~

	~~The Euribor~~ process is overseen by a [http://www.euribor-ebf.eu/euribor-org/steering-committee.html Steering Committee].


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	* [[Euro LIBOR]]		* [[Euro LIBOR]]
	* [[European Central Bank]]		* [[European Central Bank]]
	* [[European Money Markets Institute]]		* [[European Money Markets Institute]] (EMMI)
	* [[Fallback]]		* [[Fallback]]
	* [[Financial instrument]]		* [[Financial instrument]]
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	==~~External link~~==		==Other resource==
			*[https://www.emmi-benchmarks.eu/benchmarks/euribor/methodology/ EURIBOR methodology - European Money Markets Institute (EMMI)]
	*[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]		*[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
			[[Category:Manage_risks]]
	[[Category:The_business_context]]		[[Category:The_business_context]]

			[[Category:Accounting,_tax_and_regulation]]
	[[Category:Manage_risks]]		[[Category:Manage_risks]]
			[[Category:The_business_context]]

imported>Doug Williamson: Add links.

2022-04-14T21:15:23Z

Add links.

← Older revision		Revision as of 21:15, 14 April 2022
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	* [[InterBank Offered Rate]]		* [[InterBank Offered Rate]]
	* [[LIBOR]]		* [[LIBOR]]
			* [[Panel]]
			* [[Panel bank]]
	* [[Reference rate]]		* [[Reference rate]]
	* [[Reuters]]		* [[Reuters]]

imported>Doug Williamson: Layout.

2022-04-14T16:11:35Z

Layout.

← Older revision		Revision as of 16:11, 14 April 2022
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	==External link==		==External link==
	[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]		*[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
	[[Category:The_business_context]]		[[Category:The_business_context]]
	[[Category:Manage_risks]]		[[Category:Manage_risks]]

imported>Doug Williamson: Layout.

2021-07-23T01:49:29Z

Layout.

← Older revision		Revision as of 01:49, 23 July 2021
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	==Contributing rate estimates==		'''Contributing rate estimates'''

	Since 2013, a panel of banks contribute to the Euribor. The panel is made up of:		Since 2013, a panel of banks contribute to the Euribor. The panel is made up of:
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	==Euribor calculation==		'''Euribor calculation'''

	In calculating the Euribor from the submitted rates, the highest and lowest 15% of submitted rates are ignored and the central 70% remaining is averaged and published to 3 decimal places.		In calculating the Euribor from the submitted rates, the highest and lowest 15% of submitted rates are ignored and the central 70% remaining is averaged and published to 3 decimal places.

imported>Doug Williamson: Add link.

2021-07-23T01:41:40Z

Add link.

← Older revision		Revision as of 01:41, 23 July 2021
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	* [[Risk-free rates]]		* [[Risk-free rates]]
	* [[TIBOR]]		* [[TIBOR]]


			==External link==
			[https://www.ecb.europa.eu/pub/pdf/other/ecb.recommendationsEURIBORfallbacktriggereventsandESTR.202105~9e859b5aa7.en.pdf Recommendations by the working group on euro risk-free rates on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates - European Central Bank - 11 May 2021]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
	[[Category:The_business_context]]		[[Category:The_business_context]]
	[[Category:Manage_risks]]		[[Category:Manage_risks]]

imported>Doug Williamson: Layout.

2021-07-23T00:12:24Z

Layout.

← Older revision		Revision as of 00:12, 23 July 2021
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	EMMI continuously reviews the basis of EURIBOR, striving to improve it.		EMMI continuously reviews the basis of EURIBOR, striving to improve it.


	:<span style="color:#4B0082">'''''Robust fallback language for EURIBOR'''''</span>		:<span style="color:#4B0082">'''''Robust fallback language for EURIBOR'''''</span>

imported>Doug Williamson: Add quote. Source - Recommendations by the working group on euro risk-free rates - European Central Bank - 11 May 2021

2021-07-23T00:12:08Z

Add quote. Source - Recommendations by the working group on euro risk-free rates - European Central Bank - 11 May 2021

← Older revision		Revision as of 00:12, 23 July 2021
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	EMMI continuously reviews the basis of EURIBOR, striving to improve it.		EMMI continuously reviews the basis of EURIBOR, striving to improve it.

			:<span style="color:#4B0082">'''''Robust fallback language for EURIBOR'''''</span>

			:"... the working group on euro risk-free rates has been working extensively to identify best practices for contract robustness in contracts and financial instruments referencing EURIBOR.

			:Although EURIBOR is not scheduled to be discontinued, the development of more robust fallback language addressing the permanent discontinuation of EURIBOR can help to enhance legal certainty and reduce the risks stemming from the worst-case scenario and, at the same time, comply with the EU Benchmark Regulation (BMR), when applicable."

			:''Recommendations by the working group on euro risk-free rates - European Central Bank - 11 May 2021 - p2''



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	== See also ==		== See also ==
	* [[Benchmark]]		* [[Benchmark]]
	* [[Benchmarks Regulation]]		* [[Benchmarks Regulation]] (BMR)
	* [[Bloomberg]]		* [[Bloomberg]]
			* [[Contract]]
	* [[EONIA]]		* [[EONIA]]
	* [[€STR]]		* [[€STR]]
	* [[Euro LIBOR]]		* [[Euro LIBOR]]
			* [[European Central Bank]]
	* [[European Money Markets Institute]]		* [[European Money Markets Institute]]
			* [[Fallback]]
			* [[Financial instrument]]
	* [[InterBank Offered Rate]]		* [[InterBank Offered Rate]]
	* [[LIBOR]]		* [[LIBOR]]
	* [[Reference rate]]		* [[Reference rate]]
	* [[Reuters]]		* [[Reuters]]
			* [[Risk-free rates]]
	* [[TIBOR]]		* [[TIBOR]]

			[[Category:Accounting,_tax_and_regulation]]
			[[Category:The_business_context]]
	[[Category:Manage_risks]]		[[Category:Manage_risks]]

imported>Doug Williamson: Layout.

2021-03-31T13:50:09Z

Layout.

← Older revision		Revision as of 13:50, 31 March 2021
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	Sponsored by the European Money Markets Institute ([https://www.emmi-benchmarks.eu/ EMMI]), EURIBOR® is a formal benchmark or reference interest rate launched in 1998.		Sponsored by the European Money Markets Institute ([https://www.emmi-benchmarks.eu/ EMMI]), EURIBOR® is a formal benchmark or reference interest rate launched in 1998.


	It estimates the all-in, simple interest rate (including credit premium and liquidity premium) at which euro denominated interbank term deposits for spot value (T+2) are offered within the euro-zone by one prime bank to another prime bank in the period before 10.45 [[CET]] each business morning.		It estimates the all-in, simple interest rate (including credit premium and liquidity premium) at which euro denominated interbank term deposits for spot value (T+2) are offered within the euro-zone by one prime bank to another prime bank in the period before 10.45 [[CET]] each business morning.
Line 23:		Line 24:
	* Banks from EU countries not participating in the euro from the outset.		* Banks from EU countries not participating in the euro from the outset.
	* Large international banks from non-EU countries but with important euro zone operations.		* Large international banks from non-EU countries but with important euro zone operations.


	The banks submit their estimate, to two decimal places, of the rate "at which euro interbank term deposits are being offered within the Eurozone by one prime bank to another at 11 am Brussels time" ("the best price between the best banks").		The banks submit their estimate, to two decimal places, of the rate "at which euro interbank term deposits are being offered within the Eurozone by one prime bank to another at 11 am Brussels time" ("the best price between the best banks").

imported>Doug Williamson: Add link.

2019-08-17T12:38:00Z

Add link.

← Older revision		Revision as of 12:38, 17 August 2019
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	* [[Bloomberg]]		* [[Bloomberg]]
	* [[EONIA]]		* [[EONIA]]
			* [[€STR]]
	* [[Euro LIBOR]]		* [[Euro LIBOR]]
	* [[European Money Markets Institute]]		* [[European Money Markets Institute]]