Swaps users face tense wait for Euribor all-clear

Euro swaps market would have a year to replace rate if it fails to comply with EU benchmark rules

Benchmark administrator, Emmi, is "committed and confident" that rate will comply

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

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