Roundtable on euro risk-free rates – Presentation of the new RFR


Pascal Nicoloso, administrator of the ECB Working Group on euro risk-free rates, has outlined the possible approaches for smoothing the transition to the new risk-free rate for the euro area – ESTER – that was put forward in September 2018 following public consultation on the three ‘candidates’ for a new rate that were put forward previously by the Working Group.