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EMMI Policies

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WHAT's NEW

October 2019: EMMI publishes EONIA® under the reformed determination methodology and has applied for authorisation...
July 2019: EMMI confirms publication time for EONIA
July 2019: EMMI publishes the EURIBOR Benchmark Statement
July 2019: EMMI granted authorisation by Belgian Financial Services and Markets Authority
May 2019: Feedback Summary to EONIA Consultation
Mar. 2019: Consultation on the recommendations for EONIA of the EUR RFR Working Group
Feb. 2019: Feedback Summary to Second Consultation on Hybrid Methodology for EURIBOR

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.

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EMMI

EMMI publishes EONIA® under the reformed determination methodology and has applied for authorisation from the Belgian FSMA under the EU Benchmarks Regulation
More information

EMMI is the Administrator of two critical benchmarks:

	EURIBOR® is undergoing reform in order to achieve compliance with requirements set by the EU BMR.
	EONIA®'s underlying interest is the rate at which banks of sound financial standing in the European Union (EU) and European Free Trade Area (EFTA) countries lend funds in the interbank money market in euro.

EMMI advises users of EMMI benchmarks (EURIBOR® and EONIA®) to regularly assess that the benchmark used is appropriate, suitable and relevant for the targeted market and to put in place their own contingency provisions in the event any of the benchmarks are not available or in case of benchmark discontinuation. To adapt EURIBOR® and EONIA® to changes in the underpinning markets and to align the benchmarks with regulatory and market recommendations, EMMI is currently undergoing a reform of its benchmarks which includes the transition to a calculation of EURIBOR® based on transactions and the review/enhancement of EONIA® .

These benchmarks benefit from:

A solid Governance Code of Conduct (EURIBOR® – EONIA®) which sets out the governance, control and accountability frameworks established by EMMI.
An independent Steering Committee (EURIBOR® – EONIA®) of market experts which oversees the application of the Governance Code of Conduct and monitors market developments.
A dedicated Secretariat.

In addition, EURIBOR® benefits from a panel of contributing banks.

EMMI is the Administrator of two critical benchmarks: