ESTER

Interest rates - reference rates.

ESTER is an acronym for Euro Short TErm Rate.

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 administered by the European Central Bank (ECB), with formal publication scheduled from October 2019.

In the meantime, to assist transition, it is published as 'pre-ESTER'.

ESTER is also sometimes written as €STR, using the € symbol.

See also

• Benchmark
• Euro area
• European Central Bank
• O/N
• Reference rate
• RFR
• Risk-free rates
• SONIA