Private sector working group on euro risk-free rates publishes recommendations on EURIBOR fallbacks

11 May 2021

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Thursday, May 13, 2021

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11 May 2021
The private sector working group on euro risk-free rates has today published its recommendations addressing events that would trigger fallbacks in EURIBOR-related contracts, as well as STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).
The valuable feedback from the two market-wide consultations on the draft recommendations has been taken into account in the final recommendations.
As with similar fora in other currency areas, the working groups recommendations are not legally binding for market participants.
They do, however, provide guidance and represent the prevailing market consensus on EURIBOR fallback trigger events and STR-based fallback rates, which market participants may consider in their contracts.