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ARTICLE · 25 JULY 2019

Upcoming EU Interbank Offered Rates ("IBOR") Transition

Arendt & Medernach
Arendt & Medernach
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Arendt & Medernach

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The main aim of the Action Plan and the related communications made by the ECB is to support the market in the implementation of the transition away from EONIA.

LuxembourgFinance and Banking
Arendt & Medernach
Arendt & Medernach
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The main aim of the Action Plan and the related communications made by the ECB is to support the market in the implementation of the transition away from EONIA. As such, application of any of the ECB's 33 recommendations is at the full discretion of market participants.

The European Central Bank's ("ECB") working group on euro risk-free rates published earlier this week its final recommendations regarding the EONIA to €STR Legal Action Plan subsequent to the third public consultation issued in this respect. The EONIA to €STR Action Plan covers legacy and new agreements referencing EONIA in different contexts (in particular derivative transactions, collateral agreements and cash products) and was developed by the ECB working group in coordination with some of the major market participants. The main aim of the Action Plan and the related communications made by the ECB is to support the market in the implementation of the transition away from EONIA. As

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