Business, Legal & Accounting Glossary
EURIBOR stands for the Euro Interbank Offered Rate. EURIBOR is one of the reference rates for interbank lending within the Eurozone (i.e. the Euro OverNight Index Average, EOINIA, is the other one). EURIBOR is an interest rate for term loans (i.e. 1 week to 12 months) within the eurozone and does not include overnight loans (i.e. the EONIA rate does). The first release of EURIBOR was on December 30, 1998, for the value of EURIBOR on January 4th, 1999. EURIBOR is based on the interest rate quoted by several banks included in the EURIBOR panel. Over 50 banks, mostly European banks, are selected to be on the EURIBOR panel based on their premium credit rating and the high volume of their money market transactions conducted within the Eurozone. The European Banking Federation (i.e. FBE or Fédération Bancaire de l’ Union Européenne) is the legal sponsor of EURIBOR. Reuters is responsible for computing and publishing the EURIBOR each business day. EURIBOR for business day D is released on business day D-2. EURIBOR rates are generally released around 11 am Brussels time. EURIBOR should not be mistaken with the Euro LIBOR.
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This glossary post was last updated: 9th February, 2020 | 5 Views.