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EURIBOR definition
EURIBOR is a benchmark interest rate that reflects the average rate at which major eurozone banks lend unsecured short-term funds to each other. The name stands for euro interbank offered rate, and it serves as a reference rate for euro-denominated loans and derivatives.
EURIBOR is published for several maturities, including one week, one month, three months, six months, and 12 months. Lenders price variable-rate products as EURIBOR plus a fixed margin, so the cost of mortgages, business loans, and savings products tracks the benchmark up and down.
EURIBOR is often confused with LIBOR, the London interbank offered rate. LIBOR was phased out for most currencies after 2021 and replaced by rates such as SOFR and SONIA, while EURIBOR remains in active use as the eurozone's main interbank benchmark.
EURIBOR Example
You hold a euro-denominated variable-rate loan priced at 12-month EURIBOR plus a 2% bank margin.
If 12-month EURIBOR is 3.5%, your loan rate is:
3.5% + 2% = 5.5%
If EURIBOR rises to 4%, your rate climbs to 6%. If it falls to 3%, your rate drops to 5%.
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