Commission Implementing Regulation (EU) 2021/1848 of 21 October 2021 on the designation of a replacement for the benchmark Euro overnight index average (Text with EEA relevance)

• CELEX: Implementing Regulation (EU) 2021/1848
• Articles: 2

Article 1 Replacement of EONIA

1.   The Euro short-term rate (€STR) as published by the European Central Bank is designated as the replacement rate for the Euro overnight index average (EONIA) in references to EONIA in any contract, and in any financial instrument as defined in Directive 2014/65/EU.

2.   The fixed spread adjustment that shall be added to the replacement rate designated pursuant to paragraph 1 shall be equal to 8,5 basis points.

3.   The replacement rate for EONIA shall be designated in accordance with the following table:

Replaced benchmark

Replacement Rate

Spread Adjustment Value (%)

EONIA

ISIN EU0009659945

Euro short-term rate (€STR)

ISIN EU000A2X2A25

0,085

Article 2 Entry into force and application

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union .

This Regulation shall apply as of 3 January 2022.