Maijoor prioritises fallbacks in euro transition

Euro fire FA 230
By GlobalCapital
26 Sep 2019

Steven Maijoor, chair of the European Securities and Markets Authority, has pointed to challenges on the path to reform of euro risk free rates, and highlighted fallbacks as his organisation’s most important next hurdle.

Speaking at a European Central Bank roundtable on euro risk free rates in Frankfurt on Wednesday, Maijoor said major challenges remained, which he warned should not be underestimated.

While acknowledging that the implementation of the fallback provisions had been slow to date, Maijoor said ESMA’s principal aim was ...

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