The Euribor is the rate at which banks lend each other money in the interbank Euro market. It is the official reference index recommended by the Bank of Spain for mortgage loans and consumption. It is the most used value for mortgage reviews.

To calculate the Euribor every day, the 26 main banks operating in Europe are asked to send their current interest rates. Based on them, the Euribor is calculated by eliminating the lowest 15% of the interest rates studied and the arithmetic mean of the rest of the values is performed. The result is rounded to the number of three decimal places closest to the average value.

The Euribor is published on the 20th of each month in the BOE by the European Banking Federation for deposit operations in euros for a period of one year calculated.

It is, therefore, a market interest rate and not an interest rate set by the European Central Bank.