RBI becomes a contributor to EURIBOR®

As of 2 November 2022, The European Money Markets Institute (EMMI) will welcome Vienna-based Raiffeisen Bank International AG (RBI) as a new member of the EURIBOR® panel, the group of credit institutions that contribute to the calculation of EURIBOR®.

29 September 2022 15:55
By Group Communications
Press Releases

This is an important development as RBI’s participation will diversify and expand the profile of contributors geographically as it is the first Austrian bank contributing under EURIBOR’s Hybrid Methodology. Therefore, the representativeness of EURIBOR® will be further increased.“

We are very pleased to be included in the EURIBOR® panel. As Austria’s second-largest bank, we are obviously a regular user of the panel’s interest rate calculations and consider it important to support it. Based on our strong governance framework we will reliably contribute to strengthen EURIBOR®,” said Hannes Mösenbacher, CRO of RBI. Jean-Louis Schirmann, CEO of EMMI, said, "The contribution of RBI, a major actor in Austria and in Central and Eastern Europe, is important for the sustainability and robustness of EURIBOR® over the long term. It serves the money market stability in Europe."

The EURIBOR panel is based on credit institutions that contribute on a voluntary basis. Their commitment to EURIBOR® ensures its continued availability and supports EMMI’s commitment to provide a robust and reliable critical benchmark. All contributors comply with the requirements laid down in the EURIBOR® Code of Obligations of Panel Banks (COPB) for aspects related to their contribution procedures. You can find more info about the COPB here.

List of the 19 banks contributing to the determination of EURIBOR® as of 2 November 2022:

Austria Raiffeisen Bank International	Luxemburg Banque et Caisse d'Épargne de l'État
Belgium Belfius	Netherlands ING Bank
France BNP Paribas HSBC Continental Europe Natixis Crédit Agricole Société Générale	Portugal Caixa Geral De Depósitos
Germany Deutsche Bank DZ Bank	Spain Banco Bilbao Vizcaya Argentaria Banco Santander Cecabank CaixaBank
Italy Intesa Sanpaolo UniCredit	United Kingdom Barclays

About The European Money Markets Institute

Based in Brussels, The European Money Markets Institute (EMMI) is a non-for-profit association founded in 1999 by the national banking associations of the Member States of the European Union, along with the introduction of the euro.The European Money Markets Institute is an Authorised Administrator under the Benchmarks Regulation of the European Union (BMR). As such, we develop and administer Euribor®, a robust critical benchmark. We work continuously to reinforce transparency and enhance the governance framework of our benchmarks, in order to preserve their high quality and integrity. EMMI is supervised by the European Securities and Markets Authority (ESMA).

EURIBOR® is the unsecured money market reference rate for the Euro. The benchmark was declared a critical benchmark by the European Commission in 2016 because of its systemic importance for financial stability.The European Money Markets Institute also promotes standards, practices, and labels like STEP, standing for Short-Term European Paper. STEP establishes common practices and standards for the documentation of short-term paper programmes in Europe.The European Money Markets Institute also explores new initiatives to answer market needs, always in compliance with the current regulatory context and market recommendations.More info: www.emmi-benchmarks.eu

About RBI

RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 12 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A.

Around 44,000 employees service more than 17 million customers through approx. 1,700 business outlets, the by far largest part thereof in CEE. RBI's shares are listed on the Vienna Stock Exchange. The Austrian regional Raiffeisen banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the regional Raiffeisen banks and other affiliated credit institutions.