€STR

The Euro Short-Term Rate (€STR) is a reference rate for the euro. This interest rate can be used as the rate referenced in financial contracts that involve the euro. €STR is administered and calculated by the European Central Bank (ECB), based on the money market statistical reporting of the Eurosystem. According to the indications of the working group on euro risk-free rates, €STR replaced the Euro Overnight Index Average (EONIA) as the Euro risk-free rate for all products and contracts.

20 September 2017: ECB's Governing Council decided to develop a euro short-term rate based on data collected by the Eurosystem for money market statistical purposes.

13 September 2018: the working group on euro risk-free rates recommended to replace the EONIA with the euro short-term rate.

12 March 2019: the ECB decided to use the acronym "€STR".

2 October 2019: the ECB started publishing the rate.

Characteristics of the €STR:

The ISIN is EU000A2X2A25.

The €STR is calculated using overnight unsecured fixed rate deposit transactions above €1 million.