12 Dec EU lawmakers back two-year extension of euro bank lending rate
European lawmakers on Thursday
approved a two-year extension of a discredited interest rate
benchmark in a bid to avert a crunch that would affect trillions
of euros’ worth of contracts.
The EONIA benchmark is based on the rate European banks
charge for lending to each other overnight, and is published by
an industry organisation, the European Money Market Institute
(EMMI).
approved a two-year extension of a discredited interest rate
benchmark in a bid to avert a crunch that would affect trillions
of euros’ worth of contracts.
The EONIA benchmark is based on the rate European banks
charge for lending to each other overnight, and is published by
an industry organisation, the European Money Market Institute
(EMMI).
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