On 17 July 2019, the European Money Markets Institute (EMMI) published the benchmark statement for the administration of the Euro Interbank Offered Rate (EURIBOR). The statement provides information on EURIBOR across the following areas:
- market or economic reality;
- input data and methodology;
- exercise of judgement or discretion by the EMMI or contributors;
- cessation and change of the methodology;
- potential limitations of the benchmark; and
- specific disclosures for interest rate and critical benchmarks.
EMMI has been authorised by the Belgian Financial Services and Markets Authority for the administration of EURIBOR on 2 July 2019 and was included in the ESMA register of benchmark administrators on 4 July 2019. The statement should be read in conjunction with the EURIBOR governance framework and related policies and procedures which are listed in Annex 1 of the statement.