€STR: Difference between revisions
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Revision as of 14:48, 24 July 2019
Interest rates - reference rates.
€STR is an acronym for Euro Short Term Rate.
It is administered by the European Central Bank (ECB), with formal publication scheduled from October 2019.
€STR is designed to reflect the wholesale euro unsecured overnight borrowing costs of euro area banks, and to complement existing benchmark rates produced by the private sector, serving as a backstop reference rate.
It is recommended that market participants gradually replace EONIA with the €STR for all products and contracts, making the €STR their standard reference rate.
To assist transition, it is currently published as 'pre-€STR' in the period up to October 2019.
€STR is also sometimes written as ESTER.
See also
- Benchmark
- EONIA
- Euro area
- European Central Bank
- O/N
- Pre-ESTER
- Reference rate
- RFR
- Risk-free rates
- SONIA
