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The library: what is the Euribor?

Euribor

It is short for Euro Interbank Offered Rate.

The Euribor is a rate based on the interest at which a panel of European banks borrow funds from one another. In essence, Euribor is the purchase price a bank does have to pay for a short-term loan.

In many European countries, the interest rate which individuals have to be pay for a mortgage follows the Euribor-rate.

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