Following a proposal made by the Eonia Steering Committee, Euribor EBF and Euribor ACI, sponsors of EONIA, have decided to move the EONIA rate to 3 decimals instead of the current 2 decimals as from September 2007.
The first EONIA rate to be published with 3 decimals will be launched on 3 September 2007.
“This decision was made upon request from the market,” says Guido Ravoet, Secretary General of the European Banking Federation (EBF). “This change will provide the industry with a more refined benchmark and more accurate data and thus answer specific needs expressed by our industry.”