Examples of Eurocurrency Screen Rate in a sentence
The interest rate on Eurocurrency Rate Loans is determined by reference to the Eurocurrency Screen Rate, which is derived from the London interbank offered rate.
On March 5, 2021 the Financial Conduct Authority (“FCA”), the regulatory supervisor of Eurocurrency Screen Rate’s administrator (“IBA”), announced in a public statement the future cessation or loss of representativeness of overnight/Spot Next, 1-month, 2-month, 3-month, 6-month and 12-month Eurocurrency Screen Rate tenor settings.
At any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or Eurocurrency Screen Rate), then the Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings and (ii) the Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings.