News & Analysis as of

EONIA

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - September 2022

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This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more

Hogan Lovells

Securities and markets weekly regulatory news, August 2021 #2

Hogan Lovells on

Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 published The Benchmarks (Provision of Information and Documents) (Amendment) Regulations 2021 (SI 2021/920) (Amending Regulations) have been...more

A&O Shearman

EU Working Group on Risk-Free Rates Publishes Report on Liquidity in EONIA transition

A&O Shearman on

The EU Working Group on Risk-Free Rates has published a report setting out recommendations for the transition of financial products from EONIA to the Euro Short-Term Rate (€STR). The recommendations aim to ensure liquidity in...more

A&O Shearman

Working Group on Euro Risk-Free Rates Recommends Fallback Provisions Contracts Referencing EURIBOR

A&O Shearman on

The European Central Bank has published a report by the working group on euro risk-free rates providing high-level recommendations for fall-back provisions in contracts for cash products and derivatives transactions...more

A&O Shearman

EU Recommendations on Financial Accounting Implications of Transition to €STR

A&O Shearman on

The European Central Bank has published a report by the working group on euro risk-free rates on the financial accounting implications of the transition from EONIA to €STR and the introduction of €STR-based fallbacks for...more

White & Case LLP

€STR v. EURIBOR: the battle of the euro benchmark

White & Case LLP on

Tomorrow heralds an important milestone in the evolving saga of LIBOR's discontinuation, seeing the launch of the fifth and final rate, €STR, as the proposed successor to euro LIBOR. However, although in our other articles...more

A&O Shearman

European Central Bank Announces Publication Time for Euro Short-Term Rate

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The European Central Bank has announced the publication time for the new Euro short-term rate (or €STR) that will come into effect from October 2, 2019. €STR will represent the wholesale euro unsecured overnight borrowing...more

A&O Shearman

Recommended Legal Action Plan for Transition from EONIA to €STR

A&O Shearman on

Following its consultation earlier this year, the working group charged with implementing the European market's move away from EONIA, has published a recommended legal action plan for new and legacy contracts referencing...more

A&O Shearman

EONIA Methodology and One-Off Spread Confirmed

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The European Money Markets Institute has adopted the EONIA working group's proposed methodology for calculating EONIA's replacement rate. The new methodology, dubbed "€STR" (or the "Euro short term rate"), will take effect as...more

A&O Shearman

EONIA Working Group Seeks Feedback on Implementation of Euro Risk-Free Rates

A&O Shearman on

The working group charged with implementing the European market's move away from EONIA, the current reference rate used in euro-denominated financial contracts, has published a consultation paper setting out its "Legal Action...more

A&O Shearman

Key Regulatory Topics: Weekly Update 10 May 2019 – 16 May 2019

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CAPITAL MARKETS - ISDA Publishes Two Consultations on Benchmark Fallbacks - On 16 May, ISDA launched two new consultations on benchmark fallbacks. One covers adjustments that would apply to fallback rates in the event...more

Orrick - Finance 20/20

European Money Markets Institute Announces Consultation on Euro Overnight Index Average Methodology Changes

Orrick - Finance 20/20 on

On March 20, the European Money Markets Institute (EMMI), the administrator of the euro overnight index average (EONIA), announced a consultation on changes to the methodology for calculating EONIA. ...more

A&O Shearman

Working Group Recommends Replacement of EONIA With New Euro Short-Term Rate

A&O Shearman on

The European Central Bank has announced its recommendation of the Euro short-term rate - ESTER - as a euro risk-free rate by a private sector working group. The group also recommends that ESTER replaces the Euro overnight...more

A&O Shearman

European Central Bank Consults on Assessing Potential Successors to the EONIA Benchmark

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The European Central Bank has published a consultation on behalf of the Working Group on Euro Risk-Free Rates. The ECB provides the secretariat for this Working Group. The Working Group is tasked, among other things, with...more

A&O Shearman

EU Authorities Appoint Industry Working Group on Euro Risk-Free Rates

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Following the November 2017 call for expressions of interest, the European Commission, the European Central Bank, the European Securities and Markets Authority and the Belgian Financial Services and Markets Authority...more

A&O Shearman

EONIA Review Shelved

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The administrator of the Euro OverNight Index Average, the European Money Markets Institute, has announced its decision not to pursue a thorough review of the EONIA benchmark....more

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