Euro and Pre-€STR: Difference between pages

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{{lowercase}}
''Interest rates - reference rates.''
1.


A prefix meaning that currency is held in a different jurisdiction from its country of origin.  
€STR is an acronym for Euro Short TErm Rate, whose formal publication began on 2 October 2019.


For example eurodollar or euroyen or, more generally, eurocurrencies.


Before €STR's formal publication, the European Central Bank (ECB) published preliminary figures, referred to as 'pre-€STR' for the period up to 1 October 2019.


2.
Pre-€STR's aim was to reduce market uncertainty, allow market participants to assess the new rate and its statistical properties, and provide an opportunity to adjust processes and procedures to ensure transition to €STR.


Established by the 1992 Treaty on European Union (TEU, better known as the Maastricht treaty) the euro is the official currency of the European Union (EU).


The euro is used by 19 EU member states, known collectively as the 'euro zone', the other EU members having their own currencies.
Pre-€STR was also sometimes written as 'Pre-ESTER', and €STR is similarly sometimes written as 'ESTER'.




Note that the currency takes lower case except where a capital is grammatically or stylistically required, for example, at the start of a sentence.
==See also==
 
* [[Benchmark]]
The ISO (three letter) currency code for the euro is EUR.
* [[Benchmarks Regulation]]
 
* [[EONIA]]
 
* [[€STR]]
:<span style="color:#4B0082">'''''Euro seemed unlikely'''''</span>
* [[European Central Bank]]
 
* [[O/N]]
:"I was sure we would never see the adoption of the euro.
* [[Reference rate]]
 
* [[RFR]]
:Countries giving up their currencies for a common tender was, it seemed to me, completely out of tune with currency being a carrier of people's cultural identity, celebrating national heroes and events, as it had been for hundreds of years."
* [[Risk-free rates]]
 
* [[SONIA]]
:''John Naisbitt, futurist, quoted in The Treasurer magazine, Cash Management Edition April 2019 p23.''




== See also ==
==Other links==
* [[Currency]]
* [https://www.ecb.europa.eu/paym/initiatives/interest_rate_benchmarks/shared/pdf/ecb.Pre-ESTER.en.pdf ECB Pre-ESTER]
* [[EONIA]]
* [[Euribor]]
* [[Eurobond]]
* [[European Union]]
* [[Eurozone]]
* [[Futurist]]
* [[Offshore]]
* [[Tender]]


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

Latest revision as of 14:18, 29 January 2020

Interest rates - reference rates.

€STR is an acronym for Euro Short TErm Rate, whose formal publication began on 2 October 2019.


Before €STR's formal publication, the European Central Bank (ECB) published preliminary figures, referred to as 'pre-€STR' for the period up to 1 October 2019.

Pre-€STR's aim was to reduce market uncertainty, allow market participants to assess the new rate and its statistical properties, and provide an opportunity to adjust processes and procedures to ensure transition to €STR.


Pre-€STR was also sometimes written as 'Pre-ESTER', and €STR is similarly sometimes written as 'ESTER'.


See also


Other links