Methodology for the calculation of the CZESTR reference interest rate

CZESTR (CZEch Short Term Rate) is the weighted average of the interest rates of all unsecured O/N (Overnight) deposits accepted by banks and branches of foreign banks, adjusted by excluding trades representing 12.5 percent of the total volume of trades with the lowest interest rate and 12.5 percent of trades with the highest interest rate. The calculated interest rate is rounded to two decimal places.

The CZESTR reference interest rate is calculated from statistical data submitted to the Czech National Bank by banks and branches of foreign banks on a daily basis, in accordance with Decree No. 346/2013 Coll., in the statement CZEONIA01.

In addition to the adjusted volume of trades and the CZESTR reference interest rate value, the following are also published: the total number of reporting entities on the given day, the  total number of reported trades and the percentage share of the three most active banks in the included trade volume. All values related to the CZESTR rate for day D are published on the immediately following business day D+1, usually by 9:30 AM local time. The source data for the calculation are usually submitted by the banks by 8:00 AM on day D+1. Data submitted after this deadline may not be included in the calculation.