Euribor administrator woos banks to revamp dwindling panel

Efforts to double number of contributing firms said to face strong resistance from wary banks

The number of Euribor submitters has fallen dramatically post-crisis

The body responsible for administering Euribor has launched an ambitious campaign to double the number of banks on its thinning panel of rate submitters – but the lack of enthusiasm from many banks might force it to rely on proposed European legislation that could require mandatory contributions for critical benchmarks instead.

The European Money Markets Institute (EMMI) is trying to boost the number of Euribor submitters to 40 banks from its current crop of 23 – down from a pre-crisis peak of