Euribor fallback consultation set for November
ECB’s Holthausen raises concerns over inclusion of non-existent term €STR as safety net for euro contracts
Participants in euro interest rate markets will be asked for their views on alternative benchmarks for Euribor-linked products in two new consultation papers, due to be published by a key working group in November.
The proposals will offer either forward- or backward-looking versions of the new euro short-term rate (€STR) – depending on the type of product – which could result in market participants opting for a fallback that does not yet exist, and may never materialise.
“From the ECB
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