Working group on euro risk-free rates launches two public consultations on fallbacks to EURIBOR

PRESS RELEASE

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ECEC
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https://www.ecb.europa.eu//press/pr/date/2020/html/ecb.pr201123~1d59dcbe27.en.htmlhttps://www.ecb.europa.eu//press/pr/date/2020/html/ecb.pr201123~1d59dcbe27.en.html
Retrieved on: 
Monday, November 23, 2020
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Interest rates, Money, Finance, Economy, Eurozone, Euribor, Banking, Derivative, Euro, Public consultation
Summary
Key Points: 
  • PRESS RELEASE

    Working group on euro risk-free rates launches two public consultations on fallbacks to EURIBOR

    23 November 2020

    The working group on euro risk-free rates has today released two public consultations on the topic of fallback rates to EURIBOR.

  • Fallback rates are rates that can be relied upon in case of an unavailability of the main rate.
  • In the other consultation, stakeholders are invited to give their views on potential events that could trigger such fallback measures.
  • As regards STR-based fallback rates, the working group considered two types of rates:

    1) Forward-looking rates which are based on the derivatives markets referencing the STR and which reflect market expectations of the evolution of the STR.

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