The European Money Markets Institute (EMMI), the administrator of the EURIBOR benchmark, confirmed on 28 November that it has successfully completed the phase-in of all Panel Banks to the EURIBOR hybrid methodology.

The phase-in occurred on a gradual basis, so as to minimize operational and technological risks for Panel Banks, EURIBOR users and the benchmark itself. According to the press release, the phase-in process ran smoothly, without any major hitches.

The Chairman of EMMI’s Board of Directors, Jean-François Pons, hailed this new achievement as another key step towards EURIBOR’s continuity.

The EURIBOR Governance Framework, or more specifically, the EURIBOR Code of Obligations of Panel Banks (COPB), and the Benchmark Determination Methodology for EURIBOR (BDM), has now fully entered into application.