Is Euribor on borrowed time, or here for the duration?
As €STR gains traction, traders are still hedging their bets on a euro benchmark transition
At the end of June, most major financial centres will have severed their decades-long reliance on legacy interbank lending benchmarks – turning instead to replacement risk-free rates. But in the eurozone, widespread use of the euro interbank offered rate (Euribor) in retail products has prompted regulators to buck the global trend and keep the legacy benchmark – which underpins €180 trillion ($192.6 trillion) of contracts – on life support.
The question now is how long this stance can be
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