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On 14 December 2000, the Governing Council of the European Central Bank (ECB) has decided that, from 2002 until further notice, the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) system will be closed, in addition to Saturdays and Sundays, on the following days:
- New Year's Day
- Good Friday (Catholic/Protestant)
- Easter Monday (Catholic/Protestant)
- 1 May (Labour Day)
- Christmas Day
- 26 December
For further information, please visit the Website of the ECB.
EMMI launched a program to enhance the governance and control framework for the Eonia benchmark. Historically, the Code of Conduct and associated documentation for Eonia had been combined with that for the Euribor benchmark. As part of the enhancement program, EMMI wished to establish a stand-alone Code of Conduct for Eonia, reflecting both the significance and the particular characteristics of the Eonia benchmark.
In this context, the Eonia Governance Framework has been established. This robust governance framework concludes the first phase of the Eonia Review.
EMMI now intends to commence the second phase of the Eonia Review. To this end, EMMI will conduct an extensive data collection and analysis of the unsecured interbank money market activity to support any potential changes in the data input and/or calculation methodology of the Eonia benchmark. This second phase of the Eonia Review will take place during the second half of 2017.
- Press statement: EMMI publishes Guidelines for the Eonia Review Data Exercise (July 2017)
- Guidelines for the Eonia Review Data Exercise
- Press statement: EMMI adopts a governance framework for Eonia (April 2017)