An overhaul of the Euribor is set to begin in May with the aim of attracting more banks to participate in the money market. The Euribor, which stands for Euro Interbank Offered Rate, is a key benchmark interest rate used in financial markets. The reform is expected to address concerns about the declining number of banks contributing to the Euribor, which has raised questions about the rate's reliability and representativeness.
The Euribor overhaul comes as part of broader efforts to reform financial benchmarks in the wake of past scandals and to ensure their credibility and integrity. The European Money Markets Institute (EMMI) will be leading the reform process, working closely with banks and other stakeholders to make the Euribor more attractive and relevant to market participants.
