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Cecabank will stop contributing input data to Euribor after Sept. 30, 2026, according to an announcement by administrator EMMI. ESMA and the Euribor College of Supervisors say their assessment found no risk to the benchmark’s representativeness of the euro unsecured money market.
Cecabank will leave the Euribor panel after contributing input data for the final time on Sept. 30, 2026, and the European Securities and Markets Authority says the departure does not threaten Euribor’s representativeness of the euro unsecured money market. The assessment by ESMA and the national authorities in the Euribor College of Supervisors addresses concerns about whether the benchmark will continue to reflect that market after a contributing bank exits.
The change follows an announcement by EMMI, the European Money Market Institute and administrator of Euribor, that Cecabank, a Spain-based bank, will withdraw from the panel. The bank’s last day supplying input data for the benchmark determination will be Sept. 30. ESMA issued its statement in its role as supervisor of EMMI; the statement does not provide a reason for Cecabank’s decision.
ESMA and the national competent authorities participating in the Euribor College of Supervisors assessed the effect of the withdrawal on the benchmark’s representativeness. They concluded that Cecabank’s departure does not pose a risk to Euribor’s representativeness of the euro unsecured money market. The statement does not publish detailed figures or methodology from that assessment.
ESMA also pointed to the panel’s recent growth. Four new panel banks have joined since 2022, including KBC Bank, which joined in May 2026. ESMA said it continues to encourage credit institutions active in the euro unsecured money market to consider joining the panel, presenting participation as a way to support the robustness and representativeness of the benchmark.
How the Panel Change Affects Euribor
Euribor is a critical benchmark in the EU financial system. Its panel supplies input data used in determining the benchmark, so changes in participation matter to institutions and market participants that rely on it. The immediate regulatory question is whether the loss of one contributor could make the panel less representative of the euro unsecured money market.
ESMA’s conclusion is that this departure does not create that risk. That assessment offers a clear current view from the benchmark supervisor and the national authorities in the College. It is an assessment of the impact of Cecabank’s specific withdrawal; the statement does not claim that panel composition can never affect representativeness or that future departures would have the same outcome.
The panel’s enlargement since 2022 provides relevant context for the regulator’s view. Four institutions have joined during that period, with KBC Bank the most recent named addition in May 2026. A broader panel can contribute to the process of maintaining market representation, though ESMA’s statement does not quantify how each addition offsets Cecabank’s exit or describe individual banks’ contributions.
ESMA’s call for more eligible credit institutions to consider joining also points to an ongoing supervisory interest in participation. The announcement does not say that a particular number of banks is required, set a recruitment target, or identify any institution planning to join. The stated regulatory conclusion is limited: the planned exit is not assessed as a representativeness risk.
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Recent Growth in Euribor Participation
EMMI administers Euribor, while ESMA supervises the administrator. ESMA’s statement concerns EMMI’s announcement about Cecabank and the supervisory assessment of the effect that departure could have on the benchmark. The national competent authorities involved in that assessment sit within the Euribor College of Supervisors.
The relevant timeline is direct: EMMI announced Cecabank’s planned withdrawal; the supervisory authorities assessed its potential impact; and ESMA reported that they found no risk to representativeness. Sept. 30, 2026 is the final day Cecabank is due to contribute input data. The source does not specify the date of EMMI’s original announcement.
The departure comes after a period of panel expansion. ESMA reports that four new panel banks have joined since 2022, and names KBC Bank as having joined in May 2026. The announcement gives no full list of those four institutions, and it does not describe changes to Euribor’s calculation method. Its focus is the panel membership change and the regulators’ assessment of its impact.
“Cecabank’s departure does not pose a risk to the representativeness of Euribor.”
— ESMA, in its statement on the Euribor panel
Details Behind the Supervisory Assessment
ESMA’s statement gives the conclusion of its assessment but does not set out the underlying data, criteria, or detailed methodology. It does not explain why Cecabank is withdrawing, identify the other panel banks that joined since 2022, or say whether any additional institutions are considering joining.
The statement also does not describe any change to Euribor’s calculation process or give a separate assessment of possible effects on market users. The confirmed regulatory finding concerns representativeness of the euro unsecured money market in light of this departure. Whether panel membership will change further after Sept. 30, 2026, is not stated.
Cecabank’s Final Contribution Date
The next stated milestone is Sept. 30, 2026, when Cecabank is due to provide its final input data for Euribor determination. Its withdrawal takes effect after that final contribution day. The source does not announce any additional transition steps or a revised panel composition beyond the stated exit.
ESMA says it will continue encouraging eligible credit institutions active in the euro unsecured money market to consider joining the panel. No future membership announcement or further supervisory review date is specified. For now, the authorities’ published position remains that Cecabank’s departure does not put Euribor’s representativeness at risk.
Key Questions
When will Cecabank leave the Euribor panel?
Sept. 30, 2026 will be Cecabank’s final day contributing input data to the benchmark determination. Its withdrawal takes effect after that day.
Does ESMA think the departure threatens Euribor?
No. ESMA and the national competent authorities in the Euribor College of Supervisors assessed the impact and concluded that the departure does not pose a risk to Euribor’s representativeness of the euro unsecured money market.
Why is Cecabank leaving the panel?
The published statement does not give a reason for Cecabank’s decision to withdraw.
Have other banks joined the panel recently?
ESMA says four new panel banks have joined since 2022. It names KBC Bank as the most recent addition, joining in May 2026, but does not list all four institutions in the statement.
Source: primary
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