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January 17, 2016

ACAPM responds to Consultative Paper on Evolution of Euribor

ACAPM (Associates in Capital Markets) today, provided its response to the Consultative Paper on the Evolution of EURIBOR issued for feedback on 30th Oct 2015. Issued with the objective of developing a consistent measure with respect to Euribor submission and governance methodology, the European Money Markets Institute (EMMI) made various suggestions in the area of calculation methodology and submission of the benchmark.

ACAPM, agreed in principal with the efforts of the regulators in this regard. While concurring with the view that transaction based methodology is a better representation of Euribor,  It also raised key questions and suggested certain changes to the calculation methodology including suggestion of adopting "Adaptive trimmed mean" to make Euribor a more credible benchmark. The complete response to the paper can be found below.

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