€STR
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', and similarly Pre-€STR is sometimes written as 'Pre-ESTER'.
See also
- Benchmark
- EONIA
- Euro area
- European Central Bank
- O/N
- Pre-ESTER
- Reference rate
- RFR
- Risk-free rates
- SONIA
