Brexit clouds future for Euribor and Eonia in UK

Clashing deadlines threaten to scuttle rates, but ‘in-flight files’ bill might save them

UK-EU uncertainty
Eonia and Euribor not expected to make it on to Esma’s register after BMR transitional period at end-2019

The UK’s attempt to provide a smoothing two-year grace period for European benchmark rates will not help Euribor or its sibling, Eonia, if they are not registered with the European Securities and Markets Authority (Esma) by the rapidly approaching Brexit date – a highly unlikely scenario.

However, legislation being pushed through the UK parliament could give the rates more time to get their footing in a post-Brexit market. Alternatively, a renewed push to reform Eonia may allow it, along with

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