Euro RFR group calls for statutory Eonia fix

Legal designation for €STR as replacement rate would avert “confusion” in €9trn of legacy contracts

European-Commission
RFRWG hopes EC will become €STR flag-waver

The industry group leading euro benchmark transition has called on the European Commission to designate the euro short term rate, or €STR, as a statutory replacement for Eonia. The group is seeking to avert chaos in €9 trillion notional of legacy contracts, which have less than six months to transition before the rate is shut down.

In a letter to Tilman Lueder, the EC’s head of securities markets, James von Moltke, chair of the euro risk free rates working group (RFRWG), warned contract

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here