Euro short-term rate (€STR)
The European Central Bank today (2 October 2019) published for the first time the euro short-term rate (€STR), which is intended to complement the European money market’s existing benchmark interest rates.
The €STR will be published on every business day at around 08:00 CET and will be based on banks’ trading during the previous business day.
As of 2 October 2019 the euro overnight index average (EONIA) will be set according to a new methodology and will be published at, or just after, 09:15 CET on the next business day after the day of the trading to which it refers. Under the new methodology, EONIA will be redefined as the €STR plus a fixed spread and will be published on the same business day as the corresponding €STR. On 31 May 2019 the European Central Bank set the spread at 0.085% (i.e. 8.5 basis points). This spread will be applied until EONIA is discontinued, on 3 January 2022.
Martina Vráblik Solčányiová
National Bank of Slovakia
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
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