Interest rates - reference rates.
€STR is an acronym for Euro Short Term Rate.
It is administered by the European Central Bank (ECB), with formal publication from October 2019.
€STR 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 recommends that market participants replace EONIA with the €STR for all products and contracts, making €STR their standard reference rate.
€STR is also sometimes written as 'ESTER'.
- Euro area
- Euro LIBOR
- European Central Bank
- Reference rate
- Risk-free rates