As per the this link the ECB reduced rates on main refinancing operations (fixed rate tenders) by 60bps on the 18th of September. Spuerkeess told me their reference rate was 4.25% on July 11th, which corresponds to the fixed rate tenders column on that webpage. Spuerkeess today told me that the rate has reduced by 25bps in September, so I am confused as to what their reference rate is / something doesn't add up. Has anyone else been in contact with them and what can be done if they don't reduce rates in line with the benchmark?
by Ok_Garlic4194
2 comments
Is your rate actually tied to the benchmark?
>which corresponds to the fixed rate tenders column on that webpage
That’s coincidence I would say. Their reference is probably Euribor given they are part of the panel banks for Euribor. Still, there are multiple maturities, it can be a specific maturity, some average maturity, and added to that, some margin that might not be fixed over time