From ACT Wiki
Jump to navigationJump to search

Reference rates.

(Euro Interbank Offered Rate).

Sponsored by the European Money Markets Institute (EMMI), EURIBOR® is a reference interest rate launched in 1998.

Also written 'Euribor'.

EMMI continuously reviews the basis of EURIBOR, striving to improve it.

Robust fallback language for EURIBOR
"... 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

The EURIBOR process is overseen by a Steering Committee.

See also

Other resource