What is the Euribor? Euribor Euribor is an acronym "Eur operations I nter b ank O ffer R ate ", or European interbank offered rate . Is the interest rate applied to transactions between banks in Europe, meaning that the percentage rate paid as a bank when another lets you money. This index is calculated from the bid prices of the loans are made each 64 major European banks.
Euribor really is not a single type, but a set of them. Financial institutions use different interest rates depending on the term to which they lend money. Therefore we can speak of Euribor a week, a month or a year. The one-year Euribor is that normally used as a benchmark for mortgages.
Its value is updated daily and Spain is publicly announced in the Official Gazette. It is a very important indicator of the financial market, affecting, among other things, bank loans (like mortgages).
The Euribor only applies on the banks of the Member States of the European Union as part of the Eurozone. The local reference rates, such as Pibor FIBOR Paris or Frankfurt, Euribor coupled to the January 1, 1999. In the case of Spain, the Euribor Mibor replaced following the transfer of powers from the Bank of Spain to the European Central Bank.
The maximum value Euribor has taken since its inception has been 5.341%, which took in August 2000. The value of Euribor suffered a major decline over 2002, taking low during the next three years (compared to previous years). In the last quarter of 2005, its value began to escalate throughout 2006 he returned to values \u200b\u200bsimilar to those taken before this fall.
