Euribor is the abbreviation for Euro Interbank Offered Rate.
The Euribor rates are based on the average interest rates at which a large panel of European banks borrow funds from one another. There are different maturities, ranging from one week to one year.
- The Euribor rates are considered to be the most important reference rates in the European money market.
- The interest rates provide the basis for the price and interest rates of all kinds of financial products like interest rate swaps, interest rate futures, saving accounts and mortgages.
In total, there are 8 different Euribor rates.