EU lawmakers open to delaying ban on critical benchmarks
MEPs propose two-year reprieve for Eonia and Euribor if contractual continuity is at risk
The European Parliament is open to delaying a ban on the market using Eonia and Euribor from the end of 2019 if their early discontinuation “affects the continuity of contracts” that reference them.
Under the EU Benchmark Regulation a transition period is currently in place until 2020, at which point EU entities are only able to use rates authorised by regulators in new trades. Eonia won’t make
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