The euro swaps market’s main benchmark – Euribor – may have less than two years to live, but a verdict is not expected until the fourth quarter of this year.
From January 1, 2020, new contracts will not be allowed to reference Euribor unless it complies with the EU benchmarks regulation (BMR). The European Money Markets Institute is trying to shore up the sagging benchmark by mixing additional data with the interbank lending volumes on which Euribor is currently based.
An Emmi spokesperson
- Brexit novations ‘on hold’ to gain reg relief
- Banks hope final FRTB rules will ease NMRF burden
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Functional programming reaches for stardom in finance
- Mifid data publishers drag feet on Esma guidelines