International reference rates

A loan priced as “EURIBOR 3M + 2%” needs the EURIBOR figure itself, and neither the National Bank of Moldova nor the statistics bureau publishes one. These are the benchmarks that loan agreements, floating-rate clauses and group treasury policies refer to.

EURIBOR is the average rate at which large euro-area banks lend to each other for terms of one month to a year, administered by EMMI in Brussels. You meet it in variable-rate euro loans and leases: the contract says “EURIBOR 6M + margin”, and your rate resets to the benchmark’s value on the day the contract names.

The ECB rates are the price of money set by the European Central Bank: the deposit facility (the floor), the main refinancing operations, and the lending facility (the ceiling). They do not appear in contracts directly, but EURIBOR tracks them closely — when the ECB moves, your euro loan follows within months. €STR is the market’s actual overnight rate, the daily thermometer of the same corridor.

SOFR is the dollar equivalent: the secured overnight rate published by the New York Fed, which replaced LIBOR in 2023. You meet it in dollar loans and commercial contracts — including those Moldovan companies sign with foreign partners.

The sources are the rates' own administrators rather than aggregators: the European Central Bank for EURIBOR, €STR and its own policy rates, and the Federal Reserve Bank of New York for SOFR. Indicative information; to apply a contract, use the fixing published by the rate's administrator.