Regulator seeks Libor-style deal to prop up Euribor
Future of €180 trillion Euribor swaps market unclear as banks yet to agree support
Regulators are hoping to hammer out a deal to secure the near-term future of Euribor while it – and its possible successor – are overhauled, but banks that help set the under-pressure benchmark are yet to pledge their support, Risk.net can reveal.
Around €180 trillion ($211 trillion) of derivatives contracts and €1 trillion of mortgages are tied to Euribor, but the panel of banks that sets the benchmark has shrunk from 49 to 20 in the aftermath of the Libor scandal, as dealers have fled the
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