The association said today that the number of Stibor maturities will be cut to six from eight. The group will establish a Stibor Committee, which will be responsible for monitoring the framework.
The changes recommended by the EU regulators mirror a streamlining of Libor last year.
The number of Libor reference rates should be cut to 20 from 150 by phasing out currencies and maturities in which trading is thin, Martin Wheatley, the U.K.’s chief markets regulator, said in a report.
Euribor is derived from a daily survey of interbank lending rates submitted by a panel of banks and conducted for Euribor- EBF by Thomson Reuters Corp. Three-month Euribor, which tracks bank-loan rates over that maturity, was set at 0.195 percent today.
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