Difference between revisions of "€STR"
(Align with ESTER page.)
|Line 26:||Line 26:|
Revision as of 11:55, 18 August 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.
The ECB has recommended that market participants replace EONIA with the €STR for all products and contracts, making €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'.
- Euro area
- Euro LIBOR
- European Central Bank
- Reference rate
- Risk-free rates