Pre-ESTER

Interest rates - reference rates.

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

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

Pre-ESTER'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 ESTER.

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

See also

• Benchmark
• Benchmarks Regulation
• EONIA
• €STR
• European Central Bank
• O/N
• Reference rate
• RFR
• Risk-free rates
• SONIA

Other links

• ECB Pre-€STR