Letter From Chairman Of EUR Risk Free Rates WG To European Commission On The EONIA Designation

Dear Mr Lueder,

I am writing to you on behalf of the Euro Risk Free Rates Working Group (“RFRWG”) to thank you for the support with regards to the transition from EONIA to the Euro Short Term Rate (“€STR”). The draft Implementing Act designating EONIA as a critical benchmark in cessation is an important component of a clear and comprehensive solution for cash and derivative products.

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