Insurance

European Insurance and Occupational Pensions Authority

IBOR - EIOPA publishes approach for IBOR transitions - 30 September 2021

The European Insurance and Occupational Pensions Authority (EIOPA) has published report on its approach to the implementation of Interbank Offered Rates (IBOR) transitions. Key points include that:

EIOPA will implement the updated risk-free rate (RFR) methodology as of January 2022 for GBP, CHF and JPY;

• there is no current indication that EURIBOR will cease in the near future; and
• in relation to the euro’s credit risk adjustment, the overnight indexed swap will change from EONIA to ESTER as of January 2022.

Report on EIOPA’s proposal for the implementation of IBOR transitions including feedback from the consultation paper No. 21/197 on the methodology and the information request No. 21/198 on the impact (EIOPA-BoS-21/381)

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