EURIBOR and Sales Tax: Difference between pages

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(Euro Interbank Offered Rate).
Tax charged on the value of goods and services bought and sold, rather than on net income or profits.


Sponsored by the European Banking Federation ([http://www.euribor-ebf.eu/ EBF]), EURIBOR® is a formal benchmark or reference interest rate launched in 1998.
For example, VAT.
 
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.
 
 
Also written 'Euribor'.
 
 
__TOC__
 
 
==Contributing rate estimates==
 
Since September 2013, the panel of banks contributing to Euribor is made up of 32 banks though it has been larger in the past.
 
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.
 
The EBF publish 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].




== See also ==
== See also ==
* [[Benchmark]]
* [[Income Tax]]
* [[EONIA]]
* [[VAT]]
* [[Euro LIBOR]]
* [[InterBank Offered Rate]]
* [[LIBOR]]
* [[TIBOR]]


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

Revision as of 13:20, 20 August 2013

Tax charged on the value of goods and services bought and sold, rather than on net income or profits.

For example, VAT.


See also