APA ots news: ESMA and the Austrian Financial Market Authority welcome EURIBOR panel enlargement

Wien (APA-ots) - On 29 September 2022, the European Money Markets

Institute (EMMI), EURIBOR administrator, announced that Raiffeisen

Bank International AG (RBI) will join the EURIBOR panel on 2 November

2022.

ESMA and the Financial Market Authority Austria FMA welcome the

inclusion of RBI in the panel as a positive development for users of

EURIBOR and for safeguarding market confidence in this critical

benchmark in general.

Verena Ross, ESMA Chair, said:

"The enlargement of the EURIBOR panel will contribute to the

robustness and reliability of EURIBOR by supporting its capacity to

measure its underlying market. The EURIBOR panel today does not

include any banks from Austria, so the addition of Raiffeisen Bank

International AG has the further benefit of enlarging the

geographical base of the EURIBOR calculation. ESMA invites other

credit institutions, which are active in the euro unsecured money

market, to consider becoming members of the EURIBOR panel.

Eduard Müller, Executive Director Austrian Financial Market

Authority FMA, said:

"The EURIBOR is by far and away the most frequently used reference

rate in the markets of Central Eastern and South East Europe. It is

therefore particularly important that this rate is also based on data

taken from these markets. We particularly welcome RBIs entry into

the EURIBOR panel, which ensures that this is now the case.

Under the Benchmarks Regulation (BMR), ESMA is responsible for the

supervision of EMMI as the administrators of the EU critical

benchmark EURIBOR, and the National Competent Authorities are

responsible for the supervision of the banks contributing to EURIBOR.

The Austrian FMA will be responsible for the supervision of RBI under

the BMR when the bank will start contributing to the EURIBOR panel.

ESMA and the supervisors of the EURIBOR panel banks closely cooperate

on EURIBOR related matters as they are, respectively, the chair and

the members of the EURIBOR College of supervisors.

Notes for editors

1. ESMA is the European Unions securities markets regulator. Its

mission is to enhance investor protection and promote stable and

orderly financial markets.

It achieves these objectives through four activities:

i. assessing risks to investors, markets and financial stability;

ii. completing a single rulebook for EU financial markets;

iii. promoting supervisory convergence; and

iv. directly supervising specific financial entities.

2. ESMA achieves its mission within the European System of

Financial Supervision (ESFS) through active cooperation with the

European Banking Authority (EBA), the European Insurance and

Occupational Pensions Authority (EIOPA), the European Systemic Risk

Board, and with national authorities with competencies in securities

markets (NCAs).

3. The FMA is the independent, autonomous and integrated

supervisory authority for the Austrian financial market. It is an

integral part of the European System of Financial Supervisors, and

represents Austria in relevant committees in European institutions,

and cooperates closely and actively with the network of supervisors.

4. The statutory aims of the FMA are to:

i. contribute towards financial market stability in Austria,

ii. increase confidence in the efficient functioning of Austrias

financial market,

iii. protect investors, creditors and consumers in accordance with

legal provisions, and

iv. act in a preventive manner with respect to compliance with

supervisory standards, while also punishing breaches committed in a

consistent manner.

Rückfragehinweis:

FMA

Klaus Grubelnik

Mobil: +43 676 88 249 516

klaus.grubelnik@fma.gv.at

ESMA

Sarah Edwards

Tel.: +33 (0)1 58 36 43 27

press@esma.europa.eu

Digitale Pressemappe: http://www.ots.at/pressemappe/694/aom

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