LONDON, May 3 (Reuters) - Revamped versions of the Euribor and Eonia interest rate benchmarks are set to get the regulatory green light by year-end, helping the euro zone catch up with reforms aimed at avoiding a repeat of the global rate-rigging scandals.
Jean-Louis Schirmann, the Secretary General of the Brussels-based administrator of Euribor and Eonia told Reuters it had applied for approval with the Belgian financial markets regulator FSMA and hoped for clearance in the coming months.
“We can confirm that this is EMMI’s (European Money Markets Institute) intention,” Schirmann said on Friday.
FSMA confirmed the application, telling Reuters it expects to be able to grant EMMI approval for Euribor this summer, with both “compliant” with new EU benchmark rules by the end of the year.
Reporting by Marc Jones and Huw Jones