ECB announces publication time for euro short-term rate (€STR)

11 July 2019

The ECB has decided that as of the start date on 2 October 2019 the euro short-term rate (€STR) will be published at 08:00 CET on each TARGET2 business day. If errors are detected following the publication of €STR that affect €STR by more than 2 basis points, the ECB will revise and re-publish €STR on the same day at 09:00 CET.

No changes will be made to €STR after that time. €STR will be published on the ECB’s website, via the Market Information Dissemination (MID) platform, and through the ECB’s Statistical Data Warehouse. Technical specifications for the rate publication will be made available in September 2019.

To underpin the rate, a Guideline (ECB/2019/19) on the governance of the €STR and on the administration and oversight of the €STR determination process has been published. The Guideline follows transposes the International Organization of Securities Commissions (IOSCO) Principles on Financial Benchmarks – where relevant and appropriate – to ensure that an appropriate and transparent control framework in line with international best practice is in place. This protects the integrity and independence of the determination process of the €STR.

Press release

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