May 4, 2017 / 4:20 PM / 4 months ago

ECB ready to study own money market index as Euribor revamp fails

FRANKFURT, May 4 (Reuters) - The European Central Bank said on Thursday it was ready to look into launching its own index of lending between banks after an industry-led revamp of the fraud-hit Euribor benchmark failed.

"The ECB and the Eurosystem stand ready to investigate the possible provision of an unsecured overnight benchmark based on data already available," an ECB spokesman said.

"Such a benchmark could serve as an alternative reference rate in some scenarios," he added. (Reporting By Francesco Canepa)

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