Don’t bank on Euribor surviving 2020

With the publication of the officially endorsed Ester benchmark still a year away, the administrator of Europe’s two most widely used benchmarks, the European Money Markets Institute (EMMI), has been hard at work reforming Euribor so that it may be compliant with new European rules on reference rates. But EMMI’s outlook for Europe’s Ibor may be a little optimistic.

Benchmark rates that don’t comply with the European Benchmarks Regulation must no longer be used by January 2020.