Euribor is short for Euro Interbank Offered Rate. The Euribor rates are based on the average interest rates at which a large panel of European banks borrow funds from one another. There are different maturities, ranging from one week to one year.
The Euribor rates are considered to be the most important reference rates in the European money market. The interest rates do provide the basis for the price and interest rates of all kinds of financial products like interest rate swaps, interest rate futures, saving accounts and mortgages. In total, there are 5 different Euribor rates (until November 1st 2013 there were 15 Euribor rates). See current Euribor rates for an overview of all rates. Next to that there is also a 1-day European interbank interest rate called ESTER.
The European Money Markets Institute (EMMI), through the Calculation Agent, is the sole official source of publication of the Euribor® rates.
The Live Euribor® rates are distributed daily to Authorised Vendors immediately after calculation, at or around 11:00 CET.
Provided prior registration, Delayed Euribor® rates can be consulted for free on the EMMI website with a 24-hour delay, on a backward rolling period of 25 publication days. These rates may solely be used for non-commercial purposes.
No action required on your part! We are simply making you aware of interest rates changes which may affect your scheduled repayments.