Make UK and Pre-ESTER: Difference between pages

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''UK''.
''Interest rates - reference rates.''


Make UK is the UK manufacturers' association.
ESTER is an acronym for Euro Short TErm Rate, whose formal publication is scheduled from October 2019.


It was formerly known as the EEF, which derived in turn from its earlier name, the Engineering Employers' Federation.


In the meantime, the ECB is publishing preliminary figures, referred to as the 'pre-ESTER' in the period up to October 2019.


Commenting on the request for an extension of Article 50, Stephen Phipson, Chief Executive of Make UK, said on 20 March 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.


:‘It is now 1,000 days since we voted to leave the EU. Despite that, we are now in a position where the world’s fifth biggest economy has no idea what the trading relationship with its biggest market will be in nine days’ time. We are moving from farce to tragedy.


:‘The only thing likely to worsen the current picture is leaving the EU without a deal, which would be catastrophic for the manufacturing sector which is so dependent on frictionless trade, common standards and regulation.
Pre-ESTER is also sometimes written as Pre-€STR, using the € symbol.


:‘As a result, we conditionally support the Prime Minister’s decision to seek a short extension to Article 50. We do so on the express condition that the Government and Parliament use this time to relentlessly pursue a clear outcome that protects our trading relationship and provides certainty as quickly as possible. Delay for delay's sake will simply make an appalling situation worse.’


==See also==
* [[Benchmark]]
* [[ESTER]]
* [[European Central Bank]]
* [[O/N]]
* [[Reference rate]]
* [[RFR]]
* [[Risk-free rates]]
* [[SONIA]]




==See also==
==Other links==
* [[Article 50]]
* [https://www.ecb.europa.eu/paym/initiatives/interest_rate_benchmarks/shared/pdf/ecb.Pre-ESTER.en.pdf ECB Pre-ESTER]
* [[Brexit]]
* [[Brexit Day]]
* [[British Chambers of Commerce]]
* [[Confederation of British Industry]]
* [[International Chamber of Commerce]]


[[Category:The_business_context]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Financial_products_and_markets]]

Revision as of 11:48, 7 August 2019

Interest rates - reference rates.

ESTER is an acronym for Euro Short TErm Rate, whose formal publication is scheduled from October 2019.


In the meantime, the ECB is publishing 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.


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


See also


Other links