ESTER: Difference between revisions
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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. | 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. | ||
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-ESTER' in the period up to October 2019. | To assist transition, it is currently published as 'pre-ESTER' in the period up to October 2019. | ||
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*[[Benchmark]] | *[[Benchmark]] | ||
*[[EONIA]] | *[[EONIA]] | ||
*[[EURIBOR]] | |||
*[[Euro area]] | *[[Euro area]] | ||
*[[Euro LIBOR]] | |||
*[[European Central Bank]] | *[[European Central Bank]] | ||
*[[Fallback]] | *[[Fallback]] | ||
*[[O/N]] | *[[O/N]] | ||
* [[Pre- | * [[Pre-€STER]] | ||
*[[Reference rate]] | *[[Reference rate]] | ||
*[[RFR]] | *[[RFR]] | ||
Revision as of 11:51, 18 August 2019
Interest rates - reference rates.
ESTER 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.
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-ESTER' in the period up to October 2019.
ESTER is also sometimes written as €STR, using the € symbol.
See also
- Benchmark
- EONIA
- EURIBOR
- Euro area
- Euro LIBOR
- European Central Bank
- Fallback
- O/N
- Pre-€STER
- Reference rate
- RFR
- Risk-free rates
- SONIA
