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Euribor-EBF Newsletter- 3rd edition

target dates

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On 14 December 2000, the Governing Council of the European Central Bank (ECB) has decided that, from 2002 until further notice, the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) system will be closed, in addition to Saturdays and Sundays, on the following days:
  • New Year's Day
  • Good Friday (Catholic/Protestant)
  • Easter Monday (Catholic/Protestant)
  • 1 May (Labour Day)
  • Christmas Day
  • 26 December

For further information, please visit the Website of the ECB.

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EURIBOR-EBF » EUREPO® » FAQS

Eurepo® FAQs


What was the date of first quotation of Eurepo® ?
Where is Eurepo® published ?
Who is the legal sponsor of Eurepo® ?
What are the quoted maturities ?
Are Panel Banks submitting their own bids or the best bids in the market ?
Are Panel Banks reflecting GC bids for their domestic paper ?
Who can change the list of Eurepo® GC ?
What are the potential uses for Eurepo® ?
What is the applicable Business Day Convention ?
Who should I contact in case I have other questions on Eurepo® ?
What should I do if I want to use the Eurepo® trademark in a product name?

What was the date of first quotation of Eurepo® ?
The first Eurepo® reference rate was published on 04 March 2002 for value 6 March 2002.

Where is Eurepo® published ?
Eurepo® is published by THOMSON REUTERS (<EUREPO>), which is the sole official Eurepo® screen service provider.
Eurepo® is also displayed on the screen of Bloomberg (EBF <GO>).
Historical data for Eurepo® can be found on THOMSON REUTERS: EUREPOPANEL01-10 and EUREPORECAP01-04) - this is for a period going back one month. Such Eurepo® historical data is also posted on this Website every day.
Should you have further questions regarding these historical data, please contact THOMSON REUTERS in London Fixings hotline number : tel +44 207 542 9230 - Fax +44 207 542 3294 - )

Who is the legal sponsor of Eurepo® ?
The sponsor of Eurepo® is EURIBOR EBF. EURIBOR EBF is a Belgian 'international non-profit association' established pursuant to the Act of 25 October 1919, concerning the Granting of Legal Personality to International Associations with a Scientific Purpose (as amended).

What are the quoted maturities ?
The range of Eurepo® quoted maturities are T/N, 1, 2 and 3 weeks and 1, 2, 3, 6, 9 and 12 months.

Are Panel Banks submitting their own bids or the best bids in the market ?
Panel banks are submitting the best bids in the market. However, Panel banks submitting the bids are expected, under normal circumstances, to transact at these levels.

Are Panel Banks reflecting GC bids for their domestic paper ?
No. Panel banks are reflecting the bids for Eurepo® GC. It is irrelevant whether their domestic paper is more expensive than the cheapest Eurepo® GC.

Who can change the list of Eurepo® GC ?
The Steering Committee and EURIBOR EBF.

What are the potential uses for Eurepo® ?
Potential uses for Eurepo® include, inter alia:
- Eurepo® vs Euribor basis swaps : a Client decides to swap 3 mth Euribor for 3 mth Eurepo®, for 1 year (4 resets), thus eliminating the GC vs Euribor risk inherent in his swap portfolio.
- Forward GC contracts or Eurepo® futures: Potential interest for futures based off the Eurepo® fixing.
- Potential Valuation tool

What is the applicable Business Day Convention ?
The following "International Repo Council's RepoTrading Practice Guideline" applies:

  • All market participants should use the "Modified Following Business Day Convention", where if the maturity date of a repo falls on a day that is not a Business Day the maturity date shall be in the first following day that is a Business Day, unless that day falls in the next calendar month, in which case the maturity date will be the first preceding day that is a Business Day.
  • To clarify, if a repo is made on the final "Business Day" of a particular calendar month, the maturity of the repo shall be on the final Business Day of the month in which it matures (repos are dealt on an end-end basis).
  • For fixed periods shorter than 1 month (O/N, T/N, S/N, 1W, 2W) the Maturity Date shall be the first day which is a Business Day and falls at least one, seven, fourteen calendar days from the "Value Date", regardless of whether it is in the next calendar month.
  • Participants attempting to use odd settlement dates should specify the exact dates to the Inter-dealer Broker or to the Automated Trading System at the time the order is submitted.
  • Market participants are encouraged to both enquire and to specify as to the exact maturity (End) dates for transactions prior to execution.

Who should I contact in case I have other questions on Eurepo® ?
Please e-mail your questions to the .

What should I do if I want to use the Eurepo® trademark in a product name?
Eurepo® is a registered trademark of Euribor-EBF a.i.s.b.l. All rights reserved. All uses of this name must indicate that the index is a registered trademark. A licensing Agreement with Euribor-EBF is mandatory for all commercial use of the registered trademark.