Sterling RFR group urges Eiopa to end mismatch on rates

In letter, group points to discrepancy in requirement to use Libor-linked rates as Libor fades out

EIOPA headquarters

The European insurance authority must unstick the regulatory process that all but forces insurers to use Libor, even as other regulators lean on them to be done with the besmirched rate after 2021.

So said the working group on sterling risk-free rates in a July 9 letter to the European Insurance and Occupational Pensions Authority (Eiopa), essentially asking them to iron out the incongruities they face in using rates not linked to Libor. The group called on the authority to “go beyond

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