29 September 2022
Raiffeisen Bank International AG becomes a contributor to EURIBOR®
As of 2 November 2022, The European Money Markets Institute (EMMI) will welcome Raiffeisen Bank International AG (RBI) as a new member of the EURIBOR® panel, the group of credit institutions that contribute to the calculation of EURIBOR®.
This is an important development as RBI’s participation will diversify and expand the profile of contributors geographically as it is the first Austrian bank contributing under EURIBOR’s Hybrid Methodology. Therefore, the representativeness of EURIBOR® will be further increased.
Jean-Louis Schirmann, CEO of EMMI: "The contribution of RBI, a major actor in Austria and in Central and Eastern Europe, is important for the sustainability and robustness of EURIBOR® over the long term. It serves the money market stability in Europe."
This excellent news confirms a very productive year around the new developments of EURIBOR®: the outcome of the second annual review of the Hybrid Methodology and the creation of EFTERM®, the forward-looking fallback rate to EURIBOR® which will be officially launched in the fourth quarter of 2022.
Hannes Mösenbacher, CRO of RBI: “We are very pleased to be included in the EURIBOR® panel. As Austria’s second-largest bank, we are obviously a regular user of the panel’s interest rate calculations and consider it important to support it. Based on our strong governance framework we will reliably contribute to strengthen EURIBOR®.”
The EURIBOR panel is based on credit institutions that contribute on a voluntary basis. Their commitment to EURIBOR® ensures its continued availability and supports EMMI’s commitment to provide a robust and reliable critical benchmark.
All contributors comply with the requirements laid down in the EURIBOR® Code of Obligations of Panel Banks (COPB) for aspects related to their contribution procedures.
More info about the COPB here.
List of the 19 banks contributing to the determination of EURIBOR® as of 2 November 2022:
Caixa Geral De Depósitos
You can download the press release here.