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Cecabank is due to make its final contribution to Euribor on 30 September 2026, after announcing it will leave the panel. ESMA and the Euribor College of Supervisors assessed the departure and concluded it does not pose a risk to Euribor’s representativeness of the euro unsecured money market.
Cecabank is scheduled to leave the Euribor panel on 30 September 2026, its final day providing input data for the benchmark. The European Securities and Markets Authority (ESMA) and the Euribor College of Supervisors assessed the departure and concluded that it does not pose a risk to Euribor’s representativeness of the euro unsecured money market.
The departure follows an announcement by EMMI, the European Money Market Institute, which administers Euribor. ESMA issued its statement in its capacity as supervisor of EMMI. Cecabank is based in Spain. Under the announced timetable, it will stop contributing input data after 30 September, which the source identifies as the bank’s final contribution day.
ESMA said it and the national competent authorities within the Euribor College of Supervisors assessed how Cecabank’s exit could affect Euribor’s representativeness of the euro unsecured money market. Their conclusion was that the departure does not pose a representativeness risk. The statement does not give a quantitative estimate of the change in the panel or describe the assessment methodology.
The exit comes after a period of panel enlargement. According to ESMA, four new panel banks have joined since 2022, including KBC Bank, which joined in May 2026. ESMA encouraged credit institutions active in the euro unsecured money market to consider joining the panel, saying their participation supports the robustness and representativeness of the benchmark.
Euribor Panel Coverage After Cecabank
Euribor is a critical benchmark within the EU financial system, and its panel supplies input data used in determining the rate. A participating bank’s exit can prompt questions about whether the remaining contributions continue to reflect activity in the euro unsecured money market. ESMA’s assessment addresses that specific concern: the supervisor and the College of Supervisors say Cecabank’s departure does not put representativeness at risk.
That conclusion offers a current supervisory assessment, rather than a guarantee about all future market conditions. The source does not say that the departure has no effect on the panel’s composition or on the data submitted by individual banks. It says the assessed impact does not amount to a risk to Euribor’s representativeness.
The panel’s recent expansion is relevant to the change. ESMA cites four additions since 2022, with KBC Bank joining in May 2026. Those additions provide context for the regulator’s statement, although ESMA does not say that they were made in response to Cecabank’s planned exit or quantify how they offset it.
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Recent Euribor Panel Additions
EMMI administers Euribor, while ESMA supervises the administrator. ESMA’s statement concerns EMMI’s announcement that Cecabank will withdraw, and reports the assessment conducted by ESMA and national competent authorities in the Euribor College of Supervisors. This division of roles matters: the panel change was announced by the administrator, while the assessment of representativeness was made by the supervisory bodies.
The panel has expanded since 2022, with four new banks added over that period. The most recent example identified in the statement is KBC Bank’s entry in May 2026. ESMA does not list all four additions in the source material or provide a full panel count before and after Cecabank leaves. The stated purpose of encouraging further participation is to support Euribor’s robustness and representativeness.
The change is scheduled for 30 September 2026. The source describes that date as Cecabank’s final day contributing input data, so its withdrawal takes effect after its last contribution. It does not provide further operational details about how EMMI will handle panel submissions following that date.
“Cecabank’s departure does not pose a risk to the representativeness of Euribor.”
— ESMA, in its statement on the Euribor panel change
Details of the Supervisory Assessment
ESMA’s statement gives the conclusion of its assessment but does not set out the methodology, data or quantitative analysis behind it. It also does not state how many banks will remain on the panel after Cecabank’s exit, how large Cecabank’s contribution has been, or whether any further changes to panel membership are planned.
The available information does not describe any change to Euribor’s calculation methodology or publication schedule. It likewise does not say whether another institution is expected to join before or after 30 September. Those points remain unspecified in the source material; the supervisory conclusion is limited to the assessed effect of Cecabank’s departure on Euribor’s representativeness.
Cecabank’s Final Contribution Date
The next stated milestone is 30 September 2026, when Cecabank is due to make its final contribution to Euribor and its withdrawal will take effect. The source does not announce a replacement bank or another immediate panel change. ESMA’s stated next step for the wider market is to continue encouraging eligible credit institutions active in the euro unsecured money market to consider joining the panel.
Further information about panel membership or operational arrangements would need to come from EMMI or ESMA. Until such details are published, the public statement establishes the departure date and supervisory assessment, while leaving the panel’s resulting size and any later membership decisions unspecified.
Key Questions
When will Cecabank leave the Euribor panel?
30 September 2026 is scheduled to be Cecabank’s final day contributing input data to the benchmark determination.
Does ESMA say the departure threatens Euribor’s representativeness?
No. ESMA and the Euribor College of Supervisors assessed the impact and concluded that Cecabank’s departure does not pose a risk to Euribor’s representativeness of the euro unsecured money market.
Who administers Euribor?
The European Money Market Institute (EMMI) administers Euribor. ESMA issued its statement in its capacity as supervisor of EMMI.
Have other banks recently joined the panel?
ESMA says four new panel banks have joined since 2022. It identifies KBC Bank, which joined in May 2026, as a recent addition.
Will another bank replace Cecabank?
The statement does not name a replacement or announce a new panel member. ESMA says it continues to encourage eligible credit institutions to consider joining.
Source: primary
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