The European Central Bank (ECB) has announced an expansion of the euro short-term rate (€STR) reporting population. Effective from July 2, 2025, 24 additional banks will be included in the daily calculation of the €STR. This move increases the total number of reporting banks to 69.
These new banks were initially added to the Money Market Statistics Reporting (MMSR) on July 1, 2024. However, they were not incorporated into the €STR calculation until it was confirmed that their data met quality standards.
The ECB said that this expansion is aimed at enhancing both the robustness and representativeness of the benchmark. It will be supported by higher transaction volumes from a broader range of institutions. The impact on the rate level is anticipated to be minimal, with an average difference observed during testing since July 2024 being approximately -0.2 basis points.
The list of new MMSR reporting banks can be found on the ECB’s money market statistical reporting page. For further information, media inquiries can be directed to Benoit Deeg at +49 172 1683704.
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