(THREAD) Big changes are coming for euro area benchmark rates from October. Market participants need to be prepared. That’s the message from Cornelia Holthausen, who is in charge of benchmark rates at the ECB 1/6
Benchmark rates are typically an average of transactions made by market participants. But why do they matter? And why do we need this changeover? 2/6
The ECB has been actively engaged in the reform of benchmark rates, including launching a new benchmark rate. But why is the ECB interested in benchmark rates and what role have we played in the reforms? 3/6
What do banks and others benchmark rate users need to do in the short term and over the longer term? 4/6
EURIBOR will also change as part of these reforms. What preparations do users need to make? 5/6
More information on the transition from #EONIA to the euro short-term rate (€STR) is available on our website ecb.europa.eu/paym/initiativ… 6/6 #EuroSTR
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