ANNOUNCEMENt
Refinitiv launches regulated Term €STR benchmark for market participants to use as a robust fallback or reference rate
FTSE Term €STR is a forward-looking, risk-free reference rate available in 1-week, 1-month, 3-month, 6-month and 12-month tenors denominated in euros.
The working group on euro risk-free rates recommends market participants include a forward looking €STR term rate-based fallback into the following EURIBOR® referencing products:
- Retail mortgages, consumer loans and SME loans
- Trade finance
- Export and emerging markets finance products (where counterparties prefer to know the interest rates and amounts in advance)
It also identifies that some participants may want to use a forward looking €STR term rate-based fallback in select corporate lending products.
FTSE Term €STR is a production benchmark administered by Refinitiv Benchmark Services (UK) Limited (RBSL) for use in financial contracts.
FTSE Term €STR is available through the full suite of LSEG products, including Eikon®, LSEG Real-Time and DataScope, using the following RICs:
- FTSE Term €STR spot-week: EURTRRSW=RFTB
- FTSE Term €STR 1-month: EURTRR1M=RFTB
- FTSE Term €STR 3-month: EURTRR3M=RFTB
- FTSE Term €STR 6-month: EURTRR6M=RFTB
- FTSE Term €STR 12-month: EURTRR1Y=RFTB
Key resources
Factsheets
Methodology
Oversight Committee
Access rates
Complete this form to access the rates
Access rates
View FTSE Term €STR
Latest Rates
Last updated:
| Date | 1 Week | 1 Month | 3 Month | 6 Month | 12 Month |
|---|---|---|---|---|---|
| 20 Nov 2024 | 3.165 | 3.120 | 2.911 | 2.609 | 2.252 |
Note: Rates published on the FTSE Russell consumer website are subject to a one business day delay.
What you get with FTSE Term €STR
- Accurate - We source €STR overnight index swap (OIS) quote data from Tradeweb and €STR OIS executed trades from LCH
- Persistent - We adopt a waterfall methodology, allowing publication of the rate in challenging market conditions.
- Anti-gaming - We conduct pre-publication quality checks, have numerous anti-gaming methodology features
Disclaimer
2024 © LSEG. All rights reserved. FTSE Term €STR (“Term €STR”) is provided for informational purposes only.
If you have not signed up to a licensing agreement with LSEG for the use of Term €STR you are not permitted to use Term €STR for any Commercial Purposes. “Commercial Purposes” includes but is not limited to (i) using Term €STR as a reference rate or fallback rate in financial instruments, financial contracts or for valuation and pricing activities, (ii) using Term €STR as an input into a benchmark or an index or otherwise, (iii) this website being accessed by or on behalf of the same group of companies at least once per month for 3 consecutive months for the purpose of viewing or downloading Term €STR. We may use your personal data in order to determine whether we believe you are using the Term €STR for Commercial Purposes and, if we reasonably believe this is the case, we may contact you in order to arrange for a licensing agreement to be put in place.
London Stock Exchange Group plc, its affiliates (“LSEG”) and its third-party providers (together “LSEG and Third Parties”) do not guarantee the quality, accuracy and/or completeness of the Term €STR or any data included therein. LSEG and Third Parties make no express or implied warranties, representations or guarantees concerning the accuracy or completeness of the Term €STR or as to the results to be obtained by you, or any other person or entity from the use of the Term €STR or any data included therein. The Term €STR is provided by LSEG on an “as is” basis and in no event shall LSEG and Third Parties have any liability for any loss of profits, special, punitive indirect, incidental, or consequential relating to any use of or reliance on the Term €STR or any data included therein.
The Euro Short-Term Rate (“€STR”) calculated, maintained and published by the European Central Bank (“ECB”) on its website and via the Market Information Dissemination (“MID”) platform and the ECB’s Statistical Data Warehouse, is available free of charge and used by LSEG as an input into the Term €STR, subject to the ECB’s Terms of Use available at ecb.europa.eu. The ECB is the administrator of the €STR benchmark and the intellectual property owner of the “€STR” mark. The ECB has overall responsibility for providing €STR which reflects the wholesale euro unsecured overnight borrowing costs of euro area banks. The ECB has no affiliation with LSEG, is in no way responsible for the calculation, maintenance, or publication of the Term €STR and shall in no event have any liability for any use of, or reliance on, the Term €STR or any data included therein. The ECB in no way guarantees the timeliness, accurateness, completeness of, or fitness for a particular purpose and accepts no liability or responsibility for any loss, damage, expense or claim (including, but not limited to any direct, indirect or consequential loss, whether or not such loss is foreseeable and whether or not the ECB has been apprised of the use to which the rate or the information will be put), however arising, from reliance on, use of or inability to use any data or information in connection with €STR. LSEG’s use of €STR data and the “€STR” mark does not imply or express any approval, endorsement or recommendation by the ECB of any products or services offered by LSEG.
EURIBOR® is the registered trademark of and used under licence of EMMI a.i.s.b.l. The source of EURIBOR® data is the EMMI.
This disclaimer is subject change from time to time without notice from LSEG.
