PRESS RELEASE 11 July 2019 [updated 11 July 2019 at 12:00 CET] The European Central Bank (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)[1] on the governance of the €STR and on the administration and oversight of the €STR determination process has been published. The Guideline followstransposes 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. For media queries, please contact William Lelieveldt, tel.: +49 69 1344 7316 Notes Together with the €STR rate, the following related information will be published: More information about the €STR can be found on the ECB’s website. Media contacts
The IOSCO Financial Benchmark has announced that ESTR will be published at 8:00 CET on each TARGET2 business day on the IOSCO Financial Benchmark’s website. If errors are detected after publication that affect ESTR by more than 2 bp, the rate will be revised and re-published on the same day at 09:00 CET. No changes will be made after that time. Governance of the rate will transpose ECB principals where relevant and appropriate.