The euro short-term rate (€STR) measures the cost of unsecured overnight euro borrowing in wholesale markets by banks based in the euro area. The rate is derived from the Eurosystem’s money market statistical reporting and covers transactions conducted on the preceding trading day. The European Central Bank releases it on every TARGET2 business day. Its first publication took place on 2 October 2019.
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Source: European Central Bank (ECB) (source). This glossary entry is an independently worded adaptation of the cited information.