The European Central Bank (ECB) today releases an informative video on the euro area benchmark rates from October onwards. All those affected need to be properly prepared in a timely manner and this is the message of Cornelia Holthausen, who is in charge of benchmark rates at the ECB. Click here.
The €STR is designed to reflect how much a bank must pay when borrowing money overnight from various financial counterparties without providing collateral (this is sometimes referred to as ‘unsecured’). These counterparties can include banks, money market funds, investment or pension funds and other financial actors, including central banks.
For more information, click here.