Euro short-term rate
reference rate for the currency Euro
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.
History
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
Characteristics of the €STR:
The €STR is published by the ECB.
It is based on the unsecured market segment. The ECB developed an unsecured rate to replace EONIA. Furthermore, a secured rate would be affected by the type of the collaterals.
This brief starts where responsible research should: with the source description of “Euro short-term rate” as reference rate for the currency Euro. Everything that follows is an evidence route, not borrowed authority.
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The subject matters to the general reference register because the source frames it as reference rate for the currency Euro. Its deeper value depends on whether names, dates, institutions and citations support that framing.
Vocabulary and entity names are the principal evidence signals here, because they determine the precision of every later search. The source revision retrieved here is dated Nov 25, 2025. The linked authority identifier is Q65234853. None of the 0 selected statements returned an explicit reference. The first chronological checks are 2017, 2018 and 2019.
The absence of detail may reflect summary conventions rather than a lack of surviving documentation. The lead is largely declarative, so disagreement and counter-evidence require a deliberate search beyond the opening account. Authority statements aid reconciliation but still require their own references, qualifiers and ranks to be checked.
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This entry incorporates text from “Euro short-term rate” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.