“As part of an effort to restore trust in the scandal-hit Euribor interest rate, regulators said the number of maturities that make up the benchmark for trillions of euros of lending should be cut from 15 to seven.
Europe’s top banking and markets regulators told the European Banking Federation, which oversees Euribor, to strengthen governance procedures to ensure no banks try to manipulate the rate. Cutting the number of tenors would “have the benefit of simplifying” submissions….”
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