In total, there are five Euribor interest rates with different maturities. The official Euribor rates are set and published once per business day around 11:00 (Central European Time). Due to legal requirements, the rates shown on freely accessible websites are updated with a 24‑hour delay.
"}},{"componentType":"paragraph","title":"The Euribor administrator and the bank panel","richBody":{"value":"An administrator is responsible for setting and publishing the benchmark. The administrator of Euribor is EMMI. EMMI is an abbreviation of the European Money Markets Institute, established under Belgian law. The Euribor interest rates are determined on the basis of a selected group of banks. These are only banks with a strong credit rating. ING is also among the banks that contribute to Euribor.
"}},{"componentType":"paragraph","title":"What determines the level of the Euribor interest rates?","richBody":{"value":"Supply and demand determine the level of Euribor interest rates. This refers to the demand for and supply of loans that the members of the bank panel receive in the professional market. A number of external factors also strongly influence the level of the Euribor rate. These include economic conditions such as economic growth and the level of inflation, banks’ creditworthiness, and mutual trust between banks.
"}},{"componentType":"paragraph","title":"What role does the European Central Bank play?","richBody":{"value":"Since 1999, the European Central Bank (ECB) has been responsible for monetary policy in the euro area (the countries that use the euro). The ECB’s main policy rate is the so‑called deposit facility rate. This rate is the interest banks receive when they place funds on deposit with the ECB. The Euribor rate reacts quite strongly to changes in ECB interest rates.
"}},{"componentType":"paragraph","title":"What is the relationship between Euribor and savings rates?","richBody":{"value":"The development of the Euribor is a good indicator for the future development of savings rates. Euribor is basically the market price for short-term money. This includes the savings accounts, because they are quite absorbable. But also the long-term interest rates, which are set on the capital market, also determine the level of savings rates. Banks are investing savings funds over both the short and long term.
"}},{"componentType":"paragraph","title":"So how do we ultimately determine our savings rates?","richBody":{"value":"In addition to the Euribor interest rates and the long-term interest rates, both the competition and the costs we have to incur determine the final savings rates.
"}},{"componentType":"paragraph","title":"What happens if Euribor is discontinued or modified?","richBody":{"value":"If this benchmark no longer complies with applicable legislation, if the methodology of EURIBOR changes fundamentally, or if it is no longer published, the reference rate of your ING product can no longer be based on EURIBOR. In that case, an alternative benchmark will be required. If no alternative benchmark is designated as the successor to EURIBOR by the legislator, regulator, central bank, or the administrator of EURIBOR, ING will designate an alternative benchmark itself. Your product, whose reference rate is no longer applicable at that time, will then be based on this new alternative benchmark.
When transitioning to this new alternative benchmark, the bank is authorised to increase or decrease the customer margin during the term of the existing rate agreement. The bank will inform you of this in a timely manner should this situation arise. If you would like to stay informed about developments relating to benchmarks, please visit ing.com
If you would like to learn more about Euribor and historical rates, please visit www.euribor.org or consult the FAQ at the bottom of this page.
"}},{"componentType":"linkList","iconTitle":{"title":"More about"},"textLinks":[{"url":"/en/business/savings","text":"Current interest rates"},{"url":"/en/business/savings/business-orange-saving-account","text":"Open a Business Account"},{"url":"https://assets.ing.com/m/104a17c81fd6aeb2/original/FAQ_Euribor.pdf","text":"FAQ Euribor"}]}]}}}