First public consultation on developing a euro unsecured overnight interest rate

This consultation gives interested parties the opportunity to comment on the high-level features of a new unsecured overnight interest rate.

Deadline for submitting comments: 17:00 CET on 12 January 2018.

Only comments received before this deadline will be considered.

Euro unsecured overnight rate

The ECB has decided to develop a daily euro unsecured overnight interest rate based on data already available to the Eurosystem. The rate, which will be finalised before 2020, will complement existing benchmark rates produced by the private sector and will serve as a backstop reference rate. It will be based entirely on transactions in euro that are reported by banks in accordance with the ECB’s money market statistical reporting (MMSR).

Full details of the consultation

Press release

Submitting comments

Submit your comments by 17:00 CET on 12 January 2018 using this template:

Public consultation template

Send your comments to: ECB-overnight-rate@ecb.europa.eu

Please put “First public consultation on developing a euro unsecured overnight interest rate” in the subject line.

Publication of comments

After the consultation period closes, a high-level summary of the replies will be published on this webpage.