What is Euribor?

Euribor is the interest rate at which European banks lend money to one another. The rate is determined by the Euro Interbank Offered Rate (EURIBOR) panel and is published by the European Banking Federation. The EURIBOR panel consists of a representative sample of banks from across Europe. The panel meets on a daily basis to determine the EURIBOR rate. This rate is then published at 11:00 am CET (Central European Time). The EURIBOR rate is used as a benchmark for a wide range of financial products, including mortgages, loans, and bonds. As such, it plays an important role in the European financial markets.