Panel Bank

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Panel Bank

One of several banks that provide quotes for EURIBOR. The quote each panel bank offers is based on the interest rate the bank believes other banks are offering each other for overnight loans. Each panel bank must provide this quote each day; the quotes are aggregated to arrive at the official EURIBOR reference rate.
References in periodicals archive ?
The case centres on the allegation he was seeking to rig the submissions by the panel banks, used to calculate that rate.
This misleading information was aimed at influencing certain panel banks that did not participate in these infringements to submit JPY LIBOR rates in line with the adjusted 'predictions' or 'expectations' (UBS/RBS 2007, UBS/RBS 2008, UBS/DB 2008-09, Citi/DB 2010 and Citi/UBS 2010 infringements);
More than 40 private lawsuits against the LIBOR panel banks have surfaced in the scandal's aftermath, with plaintiffs ranging from individual bondholders to cities like Baltimore and Philadelphia.
Traders also colluded with "individuals at other Libor panel banks and interdealer firms to influence Libor submission, the FCA said.
The watchdogs added that other attempts of manipulation included requesting only certain Panel Banks to make specific Japanese Yen Libor submissions.
Following the withdrawal of Barclays Bank from the Eibor fixing process, the National Bank of Fujairah was selected by the Eibor panel banks to join the Eibor panel, starting October 8 2012," said a statement from the regulator.
QIBOR, which will use the contributed offer rates quoted by nine panel banks, will be calculated by Bloomberg and published on the QCB website and the Bloomberg Professional[R] service (QCBQ <GO>) beginning on May 6th at 10:00 a.
Before 27 September 2013, it was calculated based on submissions made by up to 14 panel banks to the Australian Financial Markets Association, which is responsible for administering the published BBSW rate.
The directive was intended to fend off negative public perceptions about Barclays' financial condition arising from its high LIBOR submissions relative to the submissions of other panel banks, which Barclays believed were too low given the market conditions.
The EONIA SWAP INDEX will benefit from an increasingly homogenous and integrated swap market in the euro area, an impressive panel of quoting banks, a solid code of conduct setting out strict rules for the panel banks and an independent steering committee of market experts which oversees the application of the Code of Conduct and monitors market developments," said Guido Ravoet, FBE Chairman.
Prior to 27 September 2013, it was calculated based on submissions made by up to 14 panel banks to the Australian Financial Markets Association (AFMA), which is responsible for administering the published BBSW rate.
QIBOR, which will use the contributed offer rates quoted by nine panel banks, will be calculated by Bloomberg and published on the Qatar Central Bank (QCB) website and the Bloomberg Professional[R] service beginning on 6 May 6at 10:00 a.