€STR
From ACT Wiki
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.
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-ESTER' in the period up to October 2019.
€STR is also sometimes written as ESTER.
