ECB working group to host event on euro rates transition
28 August 2019 Frankfurt
Image: Shutterstock
The European Central Bank (ECB) working group on euro risk-free rates will hold a second roundtable to review the market’s transition from the euro overnight index average (EONIA) to the euro short-term rate (€STR).
In a note to its members, the International Securities Lending Association (ISLA) explained that “this transition may have potential operational and legal implications for securities lending flows and agreements”.
Affected market participants should apply to attend the event on 25 September in Frankfurt. The deadline for applications is 18:00 CET on 5 September.
Places are limited to one representative per institution and will be allocated on a first come, first served basis.
The event will also host panel sessions and speeches by various speakers, including ECB executive board member Benoît Cœuré.
During its first meeting in September 2018, the group recommended that the €STR be used as the risk-free rate for the euro area and is now focused on supporting the market with transitioning.
The working group was established to identify and recommend risk-free rates that could serve as a basis for an alternative to current benchmarks used in a variety of financial instruments and contracts in the euro area, such as the EONIA and the euro interbank offered rate (EURIBOR).
It is a private sector working group, meaning that the ECB only provides the secretariat and attends as an observer only.
In a note to its members, the International Securities Lending Association (ISLA) explained that “this transition may have potential operational and legal implications for securities lending flows and agreements”.
Affected market participants should apply to attend the event on 25 September in Frankfurt. The deadline for applications is 18:00 CET on 5 September.
Places are limited to one representative per institution and will be allocated on a first come, first served basis.
The event will also host panel sessions and speeches by various speakers, including ECB executive board member Benoît Cœuré.
During its first meeting in September 2018, the group recommended that the €STR be used as the risk-free rate for the euro area and is now focused on supporting the market with transitioning.
The working group was established to identify and recommend risk-free rates that could serve as a basis for an alternative to current benchmarks used in a variety of financial instruments and contracts in the euro area, such as the EONIA and the euro interbank offered rate (EURIBOR).
It is a private sector working group, meaning that the ECB only provides the secretariat and attends as an observer only.
NO FEE, NO RISK
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