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EU bankers failed a whee bit. - VT100

About EU bankers failed a whee bit.

Previous Entry EU bankers failed a whee bit. Feb. 18th, 2009 @ 05:39 pm Next Entry
Head over to the Euribor website if you are into really bad record keeping.
The Euribor 360 is:
The Euribor, or Euro Interbank Offered Rate, is the average interest rate at which term deposits are offered between prime banks in the EU wholesale money market or interbank market.[1] Just like the LIBOR serves as a short-term reference rate for British Pound and U.S. Dollar denominated instruments, the Euribor is widely used as a reference rate for Euro denominated forward rate agreements, short-term interest rate futures contracts and interest rate swaps. *Source: Wikinvest.com*

It's quite simply one of the most important reference rates in Europe(and consequently the world). For instance our next mortgage will likely be tacked to one of the Euribor rates.

Considering the above, I was really rather shocked then to find their historical data section in such a disastrous state.
Here are just some of the issues I found:

  • Some years are in Microsoft Excels .xls format. While others are in text files only.

  • Some sheets show the date descending while others show it ascending.

  • The Sheet for the 2001 actually switches date entry standard in the middle of April.

  • Almost no two sheets you the same format for the date field. Despite the fact all of the original 13 EU countries use the same DD/MM/YYYY date formatting.

  • The data in some sheets covers only the indicated year. In others it seems to show an arbitrary amount of the other years.

  • The text file for 2005 apparently contains known errors(14 fields total). But rather than fix them, they link the user to the correct data.

  • There are multiple inconsistencies in the 2003 text file that make a graceful import impossible.

  • In some files a period is used as the decimal indicator. In others it's the comma.

  • From 2007 forward the date is run left to right, rather than top to bottom.

All of these are even more shocking when you consider just how many people likely look at this data. And just how easy it was for me to fix them myself(took like 3 hours).
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Date:February 18th, 2009 05:24 pm (UTC)
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Date:March 23rd, 2009 07:27 am (UTC)
Can you elaborate?
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Date:March 23rd, 2009 12:21 pm (UTC)
oh yeah I forgot to ban you didn't I.

You are not welcome here or in any community I administrate.
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