Euribor (European interbank offered rate)

The average interest rate charged by European commercial banks when lending money to one another.

On 1 January 1999, the Euribor was introduced as the new European reference rate. It replaces the national reference rates of all EU member countries (e.g. the Fibor in Germany), with the exception of London's Euro-Libor.

The Euribor is calculated daily at 11.00 a.m. by Telerate in Brussels on the basis of the individual interest rates of selected European banks. The highest and the lowest rates are not taken into account in the calculation in order to arrive at a representative reference rate.

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