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Eonia®

Planned discontinuation | 3 January 2022

Ever since Eonia’s cessation was publicly announced in May 2019, The European Money Markets Institute has regularly and steadily communicated that the benchmark will be discontinued permanently on 3 January 2022.

The European Money Markets Institute will continue to publish Eonia® every TARGET2 day until discontinuation. 

The European Money Markets Institute encourages all Eonia® users to:

  • Finalise their transition to the €STR 
  • Take all actions deemed necessary to ensure a timely and successful transition
  • Continue their repapering efforts

Interbank overnight lending reference rate

Eonia® is the interbank overnight lending reference rate for the euro. The benchmarks underlying interest is the rate at which banks of sound financial standing in the European Union (EU) and European Free Trade Area (EFTA) countries lend funds in the interbank money market in euro.

Since 1st October 2019, Eonia® is calculated with a reformed methodology tracking the €STR, the euro short-term rate of the European Central Bank (ECB). Published for the first time by the ECB on 2 October 2019 at 08:00 CET, the €STR reflects the wholesaleeuro unsecured overnightborrowing costsof euro area banks. Prior to 1 October 2019, Eonia® was computed as a weighted average of overnight unsecuredlending transactions in the EU and EFTA interbank market.

Dissemination and publication 

Provided prior registration, delayed Eonia® rates can be consulted for free with a 24-hour delay, on a backward rolling period of 25 publication days only. These rates may solely be used for non-commercial purposes. If you require access to live data (up to 24 hours), you can access it from an Authorised Vendor.

As the determination methodology of Eonia® tracks the €STR, Eonia® is calculated and published after the publication of the €STR, which the ECB does no later than 09:00 CET. As such, Eonia® is available at, or shortly after, 09:15 CET on the TARGET2 day following the TARGET2 day of the market it intends to represent. For instance, Eonia® published on 5 October 2021 reflected the market on 4 October 2021.

Press statement

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Planned cessation of Eonia® on 3 January 2022 

Discontinuation Eonia | February 2021