
FSB report highlights Eonia worries
Market participants concerned about health of euro overnight rate, which is crucial to swaps contracts

A report by the Financial Stability Board has highlighted market worries about the health of the euro overnight unsecured rate – a key benchmark for swaps contracts in the eurozone.
“The robustness of Eonia is becoming a source of concern among some market participants,” says the FSB’s progress report on the reform of major interest rate benchmarks, released today (October 10).
“Eonia relies on the contributions of a panel of banks which voluntarily report their overnight unsecured interbank
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