Steven Maijoor - introductory remarks to the 2nd Roundtable on Euro Risk Free Rates
25/09/2019
Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), has delivered the opening remarks at today's second roundtable on euro risk free rates at the European Central Bank in Frankfurt.
In his remarks, Mr. Maijoor highlighted ESMA's priorities in its work under the Benchmark Regulation (BMR) in particular the adoption by EU supervised entities of fallbacks in new and existing contracts to ensure that the relevant provision of the BMR are complied with. The key fallback being that for EURIBOR. He also highlighted the role the working group can play in the adoption of the Euro short-term rate (€STR).