Euro RFR group shuts down amid ongoing benchmark uncertainty

Working group calls time on transition despite split opinion on Euribor’s long-term future

The working group on euro risk-free rates has disbanded after holding its final meeting in Paris on November 13, effectively closing the debate over whether there will be a broader transition from Euribor to the euro short-term rate, or €STR – at least for the time being.

In a statement, the European Securities and Markets Authority, which acts as secretariat, noted the group has “accomplished its mission” but left the door ajar for further work in a jurisdiction that has sidestepped the global