Pre-ESTER: Difference between revisions
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Revision as of 14:47, 24 July 2019
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. It is administered by the European Central Bank (ECB), with formal publication scheduled from October 2019.
The ECB publishes preliminary figures, referred to as the 'pre-ESTER' in the period up to October 2019.
The pre-ESTER aims to reduce market uncertainty, allow market participants to assess the suitability of the new rate and familiarise themselves with its statistical properties, and provide an opportunity to adjust processes and procedures adequately to ensure a seamless transition to the new rate.
ESTER is also sometimes written as €STR, using the € symbol.
See also
