Lawmakers rush to double Euribor panel membership

Benchmark designated “critical” to stem departures and enable transaction-based methodology

Coercion looms: only half of the required banks have willingly joined the panel

Lawmakers rushed through measures to give regulators the power to mandate contributions to Europe's most important interest rate benchmark, Euribor, after the panel of banks dwindled to levels insufficient to implement the new required transactions-based methodology.

"We asked the [European] Commission to go swiftly with at least recognition of Euribor as a critical benchmark because of the fact that we wanted to have a supervisory college as soon as possible," says Guido Ravoet, secretary

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