Dwindling Size Of Euribor Rate Panel Worries Watchdog
By Paige Long (January 23, 2017, 9:39 PM GMT) -- The head of Europe's top securities watchdog said Monday his agency is concerned that as the number of panel banks that set the Euro Interbank Offered Rate shrinks, the benchmark may no longer be reflecting underlying markets accurately.
Steven Maijoor, chairman of the European Securities Market Authority, said it is "essential" that a sufficient number of banks take part in and contribute data to the Euribor panel so that the benchmark accurately measures the market.
Euribor is the rate at which Euro interbank term deposits are offered by one prime bank to another prime bank within the Economic and Monetary Union...
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