ECB looks to ‘accelerate’ Ester publication
Industry pleas to publish new risk-free rate earlier may be finally answered
The European Central Bank has indicated it may consider bringing forward the publication of its new unsecured overnight interest rate, which is a leading contender to replace Eonia as the risk-free rate in Europe.
The rate, called the euro short-term rate, or Ester, is scheduled for release in October next year. However, market participants are concerned that this would allow less than three months for a functioning Ester derivatives market to develop before Eonia is blocked from 2020 – a
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