English available languages
The European Central Bank (ECB) will start publishing the €STR as of 2 October 2019, reflecting the trading activity of 1 October 2019. Additionally, the ECB is ready to further support private sector efforts in the transition away from the euro overnight index average EONIA and will provide the computation of a one-off spread between the ESTR and EONIA, which was requested by the Working Group on Euro Risk-Free Rates. The spread will be calculated by the ECB according to the methodology publicly recommended by the Working Group on Euro Risk-Free Rates. The resulting spread will be communicated on the day on which the change in the methodology of EONIA is announced. It will be based on the pre€STR and EONIA data as publicly available.
Despite it, EONIA will continue to exist under a new methodology that makes a direct reference to the €STR, so that EONIA can be used in existing contracts for a limited period to allow for a smooth transition from EONIA to the eSTR. In this context, on 20 December 2018 the private sector working group on risk-free rates recommended that EONIA be calculated by applying a fixed spread to the eSTR instead of relying on a panel of banks’ contributions. The spread between the € STR and EONIA will be calculated according to a formula which the working group has recommended today and it will be based on public data. More information a can be found on the ECB’s website.
€STR or ESTER? Note:
The European Central Bank (ECB) has decided to change the acronym of its overnight rate from ESTER to €STR .
💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶 💶
English available languages