EURIBOR and Exceptional item: Difference between pages

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(Euro Interbank Offered Rate).
''Financial reporting''.


Sponsored by the European Banking Federation ([http://www.euribor-ebf.eu/ EBF]), EURIBOR® is a formal benchmark or reference interest rate launched in 1998.
In financial reporting, an 'exceptional' item is one that requires separate additional disclosure for the financial information to give a fair presentation of the reporting entity's results.


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.
Examples include substantial disposals, restructuring or discontinued operations.
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.




__TOC__
Exceptional items might, for example, be disclosed as separate lines, or separate columns, in the income statement.


 
Alternative appropriate disclosure might be to deal with the exceptional item or items within a note to the financial statements.
==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]]
*[[APM]]
* [[EONIA]]
* [[Below the line]]
* [[Euro LIBOR]]
* [[Disclosure]]
* [[InterBank Offered Rate]]
*[[Exception]]
* [[LIBOR]]
*[[Financial Reporting Council]]
* [[TIBOR]]
*[[FRS 102]]
*[[IAS 1]]
*[[Income statement]]
*[[Materiality]]
*[[Reporting]]
*[[Underlying]]


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

Revision as of 21:39, 30 July 2021

Financial reporting.

In financial reporting, an 'exceptional' item is one that requires separate additional disclosure for the financial information to give a fair presentation of the reporting entity's results.

Examples include substantial disposals, restructuring or discontinued operations.


Exceptional items might, for example, be disclosed as separate lines, or separate columns, in the income statement.

Alternative appropriate disclosure might be to deal with the exceptional item or items within a note to the financial statements.


See also