Interbank overnight interest rates: October sees the €STR replace the EONIA
A change will be made to interbank overnight interest rates on 2 October 2019: the current EONIA will be replaced by the Euro Short-Term Rate or €STR. The ECB will publish the €STR every trading day by 9 am CET. The EONIA will remain in use until the end of 2021, but in the interim (i.e. from 2 October 2019) it will be calculated as the €STR plus a fixed spread of 8.5 basis points. The Bank of Slovenia finds that the proportion of contracts in Slovenia tied to the EONIA is very low in value terms. The majority of financial instruments are tied to the EURIBOR, where the reforms are not yet finalised.
More information available here.