€STR on brink of contingency again

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By Lewis McLellan
17 Aug 2020

A sudden dip in the volume of €STR transactions and the number of banks submitting data has led to market participants voicing concerns about the rate.

Only 20 banks submitted transaction data on Friday — just enough that the ECB did not have to resort to its contingency method.

Last week, the ECB blamed a technical fault for the fact that only 15 banks were able to report €13.5bn of transaction data on August ...

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