OP is joining the Euribor Panel
OP Corporate Bank plc will become a member of the Panel, which contributes to the setting of the Euribor.
At the moment, the Panel consists of 19 major banks from around Europe. OP Corporate Bank will add a new element to the Panel's membership, which currently includes no Nordic banks.
The Euribor (Euro Interbank Offered Rate) is the reference interest rate at which European banks can borrow euros on the money market on an unsecured basis. In Finland, the Euribor is widely used as a reference rate for home loans, for example.
The Euribor is administered by the European Money Markets Institute (EMMI), which is in charge of the calculation principles and publication of reference rates. The EMMI is in the process of revising the Panel's methodology.
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