€STR: Difference between revisions
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imported>Doug Williamson (Create the page: Source related page and https://www.ecb.europa.eu/paym/initiatives/interest_rate_benchmarks/euro_short-term_rate/html/index.en.html) |
imported>Doug Williamson m (Link to EONIA.) |
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==See also== | ==See also== | ||
*[[Benchmark]] | *[[Benchmark]] | ||
* [[EONIA]] | |||
*[[Euro area]] | *[[Euro area]] | ||
*[[European Central Bank]] | *[[European Central Bank]] | ||
Revision as of 09:52, 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.
ESTER 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.
The ECB recommend 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-ESTER' in the period up to October 2019.
€STR is also sometimes written as ESTER.
