imported>Doug Williamson |
imported>Doug Williamson |
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| (Euro Interbank Offered Rate)
| | Primary Loss Absorbing Capital. |
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| Sponsored by the European Banking Federation ([http://www.euribor-ebf.eu/ EBF]), EURIBOR® is a formal benchmark or reference interest rate since 30 December 1998.
| | Used, especially in the UK, to refer to equity and bail-in-able long term debt of banks that can be written down in case of financial distress. It includes both equity and bail-in-able long-term debt. |
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| 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.
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| 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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| ==Contributing rate estimates==
| | The great majority of bank capital in future must be PLAC, in contrast with Secondary Loss Absorbing Capital (SLAC). |
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| The panel of banks contributing to Euribor is (September 2013) made up of 32 banks though it has been larger in the past.
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| 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 11.00 a.m. 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.
| | == See also == |
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| The EBF publish a [http://www.euribor-ebf.eu/assets/files/Euribor_code_conduct.pdf code of conduct] for contributing banks
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| ==Euribor calculation== | |
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| 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.
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| Thomson Reuters is the screen service provider responsible for computing and also publishing Euribor.
| | *[[Capital adequacy]] |
| | *[[Loss absorbing capacity]] |
| | *[[MREL]] |
| | *[[Principal write down]] |
| | *[[TLAC]] |
| | *[[Total Loss Absorbing Capacity]] |
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| The Euribor process is overseen by a [http://www.euribor-ebf.eu/euribor-org/steering-committee.html Steering Committee].
| | *[[SLAC]] - Secondary Loss Absorbing Capital |
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| | *[[GCLAC]] also referred to as GLAC - gone-concern loss absorbing capital |
| | *[[MCT]] |
| | *[[Bailin]] |
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| == See also ==
| | [[Category:Compliance_and_audit]] |
| * [[Benchmark]]
| | [[Category:Risk_frameworks]] |
| * [[EONIA]]
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| * [[InterBank Offered Rate]]
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| * [[LIBOR]]
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| * [[TIBOR]]
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| [[Category:Interest_Rate_Risk]] | |
Primary Loss Absorbing Capital.
Used, especially in the UK, to refer to equity and bail-in-able long term debt of banks that can be written down in case of financial distress. It includes both equity and bail-in-able long-term debt.
The great majority of bank capital in future must be PLAC, in contrast with Secondary Loss Absorbing Capital (SLAC).
See also
- SLAC - Secondary Loss Absorbing Capital
- GCLAC also referred to as GLAC - gone-concern loss absorbing capital
- MCT
- Bailin
