Euro short-term rate (€STR)

The Euro Short-Term Interest Rate (€STR) is a reference interest rate which reflects the wholesale euro unsecured overnight borrowing costs of banks located in the euro area. The €STR is based on statistical reporting in compliance with the Money Market Statistical Reporting (MMSR) Regulation (ECB/2014/48 with amendments). It is calculated for every TARGET working day, based on unsecured euro deposits, which the reporting banks get from other banks and non-bank financial institutions (e.g. money market funds, insurance companies, investment and pension funds). The €STR replaced the EONIA rate on 3 January 2022.

More about €STR is published on the ECB web site.