Euro risk-free interest rates: the transition from EONIA to €STR

Artículo de revista

Detalhes bibliográficos
Autores: Álvarez López, Inmaculada, Lago Perezagua, Pablo
Formato: artículo
Fecha de publicación:2020
País:España
Recursos:Banco de España
Repositorio:Repositorio Institucional del Banco de España
OAI Identifier:oai:repositorio.bde.es:123456789/13556
Acesso em linha:https://repositorio.bde.es/handle/123456789/13556
Access Level:acceso abierto
Palavra-chave:Mercados de dinero
Política monetaria
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spelling Euro risk-free interest rates: the transition from EONIA to €STRÁlvarez López, InmaculadaLago Perezagua, PabloMercados de dineroPolítica monetariaArtículo de revistaThe decline in the trading volume of unsecured transactions following the financial crisis led to a loss in EONIA’s representativeness. Moreover, the manipulation of some of the main benchmark rates, such as LIBOR, and the sanctions imposed by the authorities, resulted in a large number of institutions stopping their voluntary contributions to these and other benchmarks, such as EONIA. In this situation, the need for appropriate and reliable benchmark rates became clear. This article describes the key features of the new euro risk-free interest rate, known as the euro short-term rate (€STR), and why it was created. In addition, the article gives an account of the progress made by the working group on euro risk-free rates and the transition required to gradually replace EONIA, which has until now served as the benchmark for many money market contracts and as an indicator for monetary policy decisions in the Eurosystem.Banco de EspañaMadrid : Banco de España, 20202020info:eu-repo/semantics/articleapplication/pdfhttps://repositorio.bde.es/handle/123456789/13556reponame:Repositorio Institucional del Banco de Españainstname:Banco de EspañaInglésFinancial Stability Review / Banco de España, 38 (Spring 2020), p. 123-145Versión en español 123456789/13549info:eu-repo/semantics/openAccessoai:repositorio.bde.es:123456789/135562026-06-20T12:44:27Z
dc.title.none.fl_str_mv Euro risk-free interest rates: the transition from EONIA to €STR
title Euro risk-free interest rates: the transition from EONIA to €STR
spellingShingle Euro risk-free interest rates: the transition from EONIA to €STR
Álvarez López, Inmaculada
Mercados de dinero
Política monetaria
title_short Euro risk-free interest rates: the transition from EONIA to €STR
title_full Euro risk-free interest rates: the transition from EONIA to €STR
title_fullStr Euro risk-free interest rates: the transition from EONIA to €STR
title_full_unstemmed Euro risk-free interest rates: the transition from EONIA to €STR
title_sort Euro risk-free interest rates: the transition from EONIA to €STR
dc.creator.none.fl_str_mv Álvarez López, Inmaculada
Lago Perezagua, Pablo
author Álvarez López, Inmaculada
author_facet Álvarez López, Inmaculada
Lago Perezagua, Pablo
author_role author
author2 Lago Perezagua, Pablo
author2_role author
dc.subject.none.fl_str_mv Mercados de dinero
Política monetaria
topic Mercados de dinero
Política monetaria
description Artículo de revista
publishDate 2020
dc.date.none.fl_str_mv 2020
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://repositorio.bde.es/handle/123456789/13556
url https://repositorio.bde.es/handle/123456789/13556
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Financial Stability Review / Banco de España, 38 (Spring 2020), p. 123-145
Versión en español 123456789/13549
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Banco de España
Madrid : Banco de España, 2020
publisher.none.fl_str_mv Banco de España
Madrid : Banco de España, 2020
dc.source.none.fl_str_mv reponame:Repositorio Institucional del Banco de España
instname:Banco de España
instname_str Banco de España
reponame_str Repositorio Institucional del Banco de España
collection Repositorio Institucional del Banco de España
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300724

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