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Euribor interest benchmark must be from at least 12 panel banks, EMMI says

( July 17, 2019, 10:19 GMT | Official Statement) -- MLex Summary: Euribor, a gauge of interbank lending rates in the EU, must be calculated based on data from at least 12 banks from three countries, out of a panel of 18 lenders that includes UniCredit, Barclays and Santander, its administrator the European Money Markets Institute has said. Any errors in the daily calculation must be notified before 2:00 p.m. Brussels time each day, said the formal benchmark statement prepared under new EU rules designed after a string of scandals that plagued financial indexes.Statement follows. Document attached. ...

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