July 24, 2020 / 8:49 AM / 12 days ago

ECB says it is considering publishing 'compounded ESTR' if Euribor disappears

FILE PHOTO: The European Central Bank logo. Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - The European Central Bank said on Friday it was considering publishing term interest rates based on the compounded value of its ESTR overnight benchmark as a “fall-back” option if scandal-hit Euribor is ditched.

The ECB has launched a public consultation on the specific characteristics of the compounded rates, starting on Friday and ending on Sept 11.

Reporting By Francesco Canepa; Editing by Hugh Lawson

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