ECB announces methodology for calculating ESTER
28 June 2018 Frankfurt
Image: Shutterstock
The governing council of the European Central Bank (ECB) have made a decision on the final methodology for calculating the Euro Short-Term Rate (ESTER).
The ESTER is an overnight-unsecured rate based entirely on money market statistical reporting (MMSR), and the publication of this will begin by October this year.
Additionally, the governing council have decided to release the time-lagged publication of daily rate, volume and dispersion data based on the main methodological features of the forthcoming ESTER, called pre-ESTER.
The first publication of pre-ESTER covers historical time series data for the reserve maintenance periods from 15 March last year to 2 May this year.
Regular releases for each reserve maintenance period will be issued starting in the summer of 2018.
The governing council said that they would like to “thank all respondents to the two ECB public consultations on the design of the interest rate. The feedback provided valuable guidance in the preparation of the final methodology”.
The ESTER is an overnight-unsecured rate based entirely on money market statistical reporting (MMSR), and the publication of this will begin by October this year.
Additionally, the governing council have decided to release the time-lagged publication of daily rate, volume and dispersion data based on the main methodological features of the forthcoming ESTER, called pre-ESTER.
The first publication of pre-ESTER covers historical time series data for the reserve maintenance periods from 15 March last year to 2 May this year.
Regular releases for each reserve maintenance period will be issued starting in the summer of 2018.
The governing council said that they would like to “thank all respondents to the two ECB public consultations on the design of the interest rate. The feedback provided valuable guidance in the preparation of the final methodology”.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
