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turustatavate varade loetelu"></a><ul><li class="clearfix"><a href="/mopo/coll/assets/guide/html/index.et.html">Kasutajajuhend</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/coll/html/index.et.html">Tagatise mobiliseerimine</a><a href="#" class="subpages" title="toggle subpages for Tagatise mobiliseerimine"></a><ul><li class="clearfix"><a href="/mopo/coll/coll/ccbm/html/index.et.html">Keskpankadevaheline piiriüleste tagatiste haldamise raamistik</a></li><li class="clearfix"><a href="/mopo/coll/coll/eligiblesss/html/index.et.html">Kõlblikud väärtpaberiarveldussüsteemid</a></li><li class="clearfix"><a href="/mopo/coll/coll/ssslinks/html/index.et.html">Kõlblikud ühendused</a></li><li class="clearfix"><a href="/mopo/coll/coll/triparty/html/index.et.html">Kõlblikud kolmepoolsed agendid</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/risk/html/index.et.html">Riskide leevendamine</a><a href="#" class="subpages" title="toggle subpages for Riskide leevendamine"></a><ul><li class="clearfix"><a href="/mopo/coll/risk/ecaf/html/index.et.html">Eurosüsteemi krediidihindamisraamistik</a></li><li class="clearfix"><a href="/mopo/coll/risk/riskcontrol/html/index.et.html">Riskikontroll</a></li><li class="clearfix"><a href="/mopo/coll/risk/liquidity/html/index.et.html">Väärtuskärpe liigid</a></li><li class="clearfix"><a href="/mopo/coll/risk/valuation/html/index.et.html">Väärtuse hindamine</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/loanlevel/html/index.et.html">Laenuandmete algatus</a><a href="#" class="subpages" title="toggle subpages for Laenuandmete algatus"></a><ul><li class="clearfix"><a href="/mopo/coll/loanlevel/transmission/html/index.et.html">Andmevormid</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/implementation/html/index.et.html">Kõlblikkusnõuded</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/faq/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li><li class="clearfix"><a href="/mopo/coll/contacts/html/index.et.html">Kontaktid</a></li></ul></li><li class="has-subpages"><a href="/mopo/eaec/html/index.et.html">Euroala majanduse struktuur</a><a href="#" class="subpages" title="toggle subpages for Euroala majanduse struktuur"></a><ul><li class="clearfix"><a href="/mopo/eaec/ecopolicy/html/index.et.html">Majanduspoliitika</a></li><li class="clearfix"><a href="/mopo/eaec/fiscal/html/index.et.html">Eelarvepoliitika</a></li><li class="clearfix"><a href="/mopo/eaec/trade/html/index.et.html">Väliskaubandus</a></li><li class="clearfix"><a href="/mopo/eaec/eer/html/index.et.html">Efektiivsed vahetuskursid</a></li><li class="clearfix"><a href="/mopo/eaec/structure/html/index.et.html">Finantsstruktuur</a></li><li class="clearfix"><a href="/mopo/eaec/markets/html/index.et.html">Finantsturud</a></li><li class="clearfix"><a href="/mopo/eaec/intermediaries/html/index.et.html">Finantsvahendajad</a></li><li class="clearfix"><a href="/mopo/eaec/diversity/html/index.et.html">Majanduslik mitmekesisus</a></li><li class="clearfix"><a href="/mopo/eaec/labour/html/index.et.html">Tööturg</a></li></ul></li><li class="has-subpages"><a href="/mopo/market-contact-groups/html/index.et.html">Turgude kontaktrühmad</a><a href="#" class="subpages" title="toggle subpages for Turgude kontaktrühmad"></a><ul><li class="clearfix"><a href="/mopo/market-contact-groups/bmcg/html/index.et.html">Võlakirjaturu kontaktrühm</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/mmcg/html/index.et.html">Rahaturu kontaktrühm</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/dimcg/html/index.et.html">Võlakirjade emiteerimise turu kontaktrühm (DIMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/omg/html/index.et.html">EKP operatsioonihaldurite rühm</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/fxcg/html/index.et.html">Välisvaluuta kontaktrühm</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/iid/html/index.et.html">Institutsiooniliste investorite vaheline dialoog</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/paym/html/index.et.html">Maksed & finantsstabiilsus</a><a href="#" class="subpages" title="toggle subpages for Maksed & finantsstabiilsus"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Maksed ja finantsstabiilsus</div> <p>Ülevaade meie tööst finantsstabiilsuse ning makse- ja turuinfrastruktuuride valdkonnas</p><a href="/paym/html/index.en.html">Ülevaade maksete ja finantsstabiilsuse teemadest</a><hr> <div class="nav-title">Lingid</div> <ul> <li><a href="/euro/digital_euro/html/index.en.html">Digitaalne euro</a></li> <li><a href="/press/intro/html/index.en.html">Maksete valdkonna arengud ja sündmused</a></li> <li><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">Dokumendid ja lingid TARGETi ekspertidele</a></li> </ul> </div><a href="/pub/financial-stability/fsr/html/index.en.html" class="item image"> <img src="/paym/financial-stability/html/index/fsr_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Värskeim finantsstabiilsuse ülevaade</div> <div class="image-date">16. mai 2024</div></a></div></div><ul><li class="clearfix"><span>Maksed</span></li><li class="has-subpages"><a href="/paym/target/html/index.et.html">TARGETi teenused</a><a href="#" class="subpages" title="toggle subpages for TARGETi teenused"></a><ul><li class="clearfix"><a href="/paym/target/coco/html/index.et.html">Ühised elemendid</a></li><li class="has-subpages"><a href="/paym/target/t2/html/index.et.html">T2</a><a href="#" class="subpages" title="toggle subpages for T2"></a><ul><li class="clearfix"><a href="/paym/target/t2/facts/html/index.et.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2/governance/html/index.et.html">Juhtimine</a></li></ul></li><li class="has-subpages"><a href="/paym/target/t2s/html/index.et.html">T2S</a><a href="#" class="subpages" title="toggle subpages for T2S"></a><ul><li class="clearfix"><a href="/paym/target/t2s/governance/html/index.et.html">Juhtimine</a></li><li class="clearfix"><a href="/paym/target/t2s/facts/html/index.et.html">Faktid ja arvud</a></li><li class="clearfix"><a href="/paym/target/t2s/pricing/html/index.et.html">Hinnakujundus</a></li></ul></li><li class="has-subpages"><a href="/paym/target/tips/html/index.et.html">TARGETi välkmaksete arveldussüsteem (TIPS)</a><a href="#" class="subpages" title="toggle subpages for TARGETi välkmaksete arveldussüsteem (TIPS)"></a><ul><li class="clearfix"><a href="/paym/target/tips/crossborder/html/index.et.html">Cross-border payments</a></li><li class="clearfix"><a href="/paym/target/tips/governance/html/index.et.html">Juhtimine</a></li><li class="clearfix"><a href="/paym/target/tips/facts/html/index.et.html">Faktid ja arvud</a></li><li class="clearfix"><a href="/paym/target/tips/onboarding/html/index.et.html">Ühinemine</a></li></ul></li><li class="clearfix"><a href="/paym/target/ecms/html/index.et.html">Eurosüsteemi tagatiste haldamise süsteem</a></li><li class="has-subpages"><a href="/paym/target/target-professional-use-documents-links/html/index.et.html">TARGETi dokumendid ja lingid eksperdile</a><a href="#" class="subpages" title="toggle subpages for TARGETi dokumendid ja lingid eksperdile"></a><ul><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/coco/html/index.et.html">Ühised elemendid: dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2/html/index.et.html">T2 dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2s/html/index.et.html">T2S dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/tips/html/index.et.html">TIPS: dokumendid ja lingid</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/ecms/html/index.et.html">Ekspertidele</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/integration/html/index.et.html">Lõimumine ja innovatsioon</a><a href="#" class="subpages" title="toggle subpages for Lõimumine ja innovatsioon"></a><ul><li class="has-subpages"><a href="/paym/integration/distributed/html/index.et.html">Hajusraamatu tehnoloogia</a><a href="#" class="subpages" title="toggle subpages for Hajusraamatu tehnoloogia"></a><ul><li class="clearfix"><a href="/paym/integration/distributed/exploratory/html/index.et.html">Uurimistegevus</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/retail/html/index.et.html">Jaemaksed</a><a href="#" class="subpages" title="toggle subpages for Jaemaksed"></a><ul><li class="clearfix"><a href="/paym/integration/retail/retail_payments_strategy/html/index.et.html">Jaemakseteenuste strateegia</a></li><li class="clearfix"><a href="/paym/integration/retail/ecb/html/index.et.html">EKP kiirendav roll</a></li><li class="clearfix"><a href="/paym/integration/retail/sepa/html/index.et.html">Ühtne euromaksete piirkond (SEPA)</a></li><li class="clearfix"><a href="/paym/integration/retail/instant_payments/html/index.et.html">Välkmaksed</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/collateral/html/index.et.html">Tagatiste haldamise ühtlustamine</a><a href="#" class="subpages" title="toggle subpages for Tagatiste haldamise ühtlustamine"></a><ul><li class="clearfix"><a href="/paym/integration/collateral/implementation/html/index.et.html">Rakendamine</a></li><li class="clearfix"><a href="/paym/integration/collateral/faq/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/cyber-resilience/html/index.et.html">Kübervastupidavusvõime</a><a href="#" class="subpages" title="toggle subpages for Kübervastupidavusvõime"></a><ul><li class="clearfix"><a href="/paym/cyber-resilience/fmi/html/index.et.html">Finantsturutaristud</a></li><li class="clearfix"><a href="/paym/cyber-resilience/tiber-eu/html/index.et.html">ELi TIBER-raamistik</a></li></ul></li><li class="has-subpages"><a href="/paym/pol/html/index.et.html">Järelevaatamine</a><a href="#" class="subpages" title="toggle subpages for Järelevaatamine"></a><ul><li class="clearfix"><a href="/paym/pol/systems/html/index.et.html">Maksesüsteemid</a></li><li class="clearfix"><a href="/paym/pol/target2-securities/html/index.et.html">TARGET2-Securities</a></li><li class="clearfix"><a href="/paym/pol/instr/html/index.et.html">E-maksed</a></li><li class="clearfix"><a href="/paym/pol/clearing/html/index.et.html">Väärtpaberiarveldussüsteemid ja kesksed vastaspooled</a></li><li class="clearfix"><a href="/paym/pol/critical/html/index.et.html">Kriitilise tähtsusega teenusepakkujad</a></li><li class="clearfix"><a href="/paym/pol/correspondent-and-custodian-banks/html/index.et.html">Korrespondent- ja depoopangad</a></li><li class="clearfix"><a href="/paym/pol/forum/html/index.et.html">SecuRe Pay foorum</a></li></ul></li><li class="has-subpages"><a href="/paym/erms/html/index.et.html">Reservihaldusteenused</a><a href="#" class="subpages" title="toggle subpages for Reservihaldusteenused"></a><ul><li class="clearfix"><a href="/paym/erms/aspects/html/index.et.html">Põhiaspektid</a></li><li class="clearfix"><a href="/paym/erms/service/html/index.et.html">Teenused</a></li></ul></li><li class="has-subpages"><a href="/paym/cashprof/html/index.et.html">Sularahakäitlejad</a><a href="#" class="subpages" title="toggle subpages for Sularahakäitlejad"></a><ul><li class="has-subpages"><a href="/paym/cashprof/cashhand/html/index.et.html">Sularahakäitlus</a><a href="#" class="subpages" title="toggle 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href="/paym/groups/erpb/html/index.et.html">Eurojaemaksete nõukogu</a></li><li class="clearfix"><a href="/paym/groups/efip/html/index.et.html">Euroopa makseuuenduste foorum</a></li></ul></li><li class="clearfix"><span>Finantsstabiilsus</span></li><li class="clearfix"><a href="/paym/financial-stability/html/index.et.html">Ülevaade</a></li><li class="clearfix"><a href="/paym/macroprudential-measures/html/index.et.html">Makrotasandi usaldatavusmeetmed</a></li><li class="clearfix"><a href="/paym/financial_stability_contact_groups/html/index.et.html">Finantsstabiilsusega tegelevad kontaktrühmad</a></li></ul></div></li><li class="has-subpages -section" aria-expanded="false"><a href="/stats/html/index.et.html">Statistika</a><a href="#" class="subpages" title="toggle subpages for Statistika"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Statistika</div> <p>Juurdepääs EKP statistikale ja taustteabele</p><a href="/stats/html/index.en.html">EKP statistika ülevaade</a><hr> <div class="nav-title">Lingid</div> <ul> <li><a href="https://data.ecb.europa.eu/main-figures">Olulised näitajad</a></li> <li><a href="https://data.ecb.europa.eu/">EKP andmeportaal</a></li> <li><a href="/stats/ecb_statistics/accessing-our-data/html/index.en.html">Kõik andmeteenused</a></li> </ul> </div><a href="/press/blog/date/2024/html/ecb.blog20240418~2240ea1850.en.html" class="item image"> <img src="/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">EKP BLOGI – Tõhustatud andmed: kuidas mõjutavad kliimamuutused panku</div> <div class="image-date">18. aprill 2024</div></a></div></div><ul><li class="clearfix"><span>Enim vaadatud</span></li><li class="clearfix"><a href="/stats/euro-exchange-rates/html/index.et.html">Euro vahetuskursid</a></li><li class="clearfix"><a href="/stats/key-ecb-interest-rates/html/index.et.html">EKP baasintressimäärad</a></li><li class="has-subpages"><a href="/stats/euro-short-term-rates/html/index.et.html">Euro lühiajaline intressimäär (€STR)</a><a href="#" class="subpages" title="toggle subpages for Euro lühiajaline intressimäär (€STR)"></a><ul><li class="has-subpages"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/html/index.et.html">Viiteintressimäärad</a><a href="#" class="subpages" title="toggle subpages for Viiteintressimäärad"></a><ul><li class="clearfix"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/WG_euro_risk-free_rates/html/index.et.html">Euro riskivabade intressimäärade töörühm</a></li></ul></li></ul></li><li class="clearfix"><a href="/stats/inflation/html/index.et.html">Inflatsioon</a></li><li class="clearfix"><a href="/stats/euro-area-yield-curves/html/index.et.html">Euroala tulukõverad</a></li><li class="clearfix"><span>Kogu statistika ja taustteave</span></li><li class="clearfix"><a href="/stats/all-key-statistics/html/index.et.html">Kõik olulised statistikaandmed</a></li><li class="clearfix"><a href="/stats/accessing-our-data/html/index.et.html">Juurdepääs andmetele</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/html/index.et.html">Põhiteemad</a><a href="#" class="subpages" title="toggle subpages for Põhiteemad"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/governance_and_quality_framework/html/index.et.html">Statistika haldamine ja kvaliteediraamistik</a></li><li class="clearfix"><a href="/stats/ecb_statistics/co-operation_and_standards/html/index.et.html">Koostöö ja standardid</a></li><li class="clearfix"><a href="/stats/ecb_statistics/reporting/html/index.et.html">Pankade aruandlus</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/anacredit/html/index.et.html">AnaCredit</a><a href="#" class="subpages" title="toggle subpages for AnaCredit"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/anacredit/questions/html/index.et.html">AnaCredit: küsimused ja vastused</a></li></ul></li><li class="clearfix"><a href="/stats/ecb_statistics/consultations/html/index.et.html">Avalikud konsultatsioonid</a></li><li class="clearfix"><a href="/stats/ecb_statistics/dialogue/html/index.et.html">Pangandussektori dialoog EKPSi statistika ja integreeritud aruandluse küsimustes</a></li><li class="clearfix"><a href="/stats/ecb_statistics/sdmx/html/index.et.html">Statistiliste andmete vahetuse mudel (SDMX)</a></li><li class="clearfix"><a href="/stats/ecb_statistics/inexda/html/index.et.html">Granulaarsete andmete võrgustik (INEXDA)</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/euro/html/index.et.html">Euro</a><a href="#" class="subpages" title="toggle subpages for Euro"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Euro</div> <p>Ühisvääringuga seotud teemad</p><a href="/euro/html/index.en.html">Ülevaade eurost</a><hr> <div class="nav-title">Lingid</div> <ul> <li><a href="/paym/cashprof/html/index.en.html">Sularahakäitlejad</a></li> <li><a href="/stats/policy_and_exchange_rates/banknotes+coins/html/index.en.html">Statistika pangatähtede ja müntide kohta</a></li> <li><a href="/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html">Euro vahetuskursid</a></li> </ul> </div><a href="/stats/ecb_surveys/space/html/ecb.space2024~19d46f0f17.en.html" class="item image"> <img src="/euro/shared/img/cover.png" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Euroala tarbijate maksealaste hoiakute uuring (2024)</div> <div class="image-date">19. detsember 2024</div></a></div></div><ul><li class="has-subpages"><a href="/euro/digital_euro/html/index.et.html">Digitaalne euro</a><a href="#" class="subpages" title="toggle subpages for Digitaalne euro"></a><ul><li class="has-subpages"><a href="/euro/digital_euro/features/html/index.et.html">Põhiomadused</a><a href="#" class="subpages" title="toggle subpages for Põhiomadused"></a><ul><li class="clearfix"><a href="/euro/digital_euro/features/privacy/html/index.et.html">Digital euro and privacy</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/how-it-works/html/index.et.html">Kuidas digitaalne euro toimib</a></li><li class="clearfix"><a href="/euro/digital_euro/why-we-need-it/html/index.et.html">Miks on digitaalne euro vajalik?</a></li><li class="clearfix"><a href="/euro/digital_euro/progress/html/index.et.html">Ajakava ja kulg</a></li><li class="has-subpages"><a href="/euro/digital_euro/timeline/html/index.et.html">Projektist lähemalt</a><a href="#" class="subpages" title="toggle subpages for Projektist lähemalt"></a><ul><li class="clearfix"><a href="/euro/digital_euro/timeline/stakeholder/html/index.et.html">Juhtimine ja sidusrühmade kaasamine</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/profuse/html/index.et.html">Tehniline teave ja uurimistöö</a></li><li class="clearfix"><a href="/euro/digital_euro/timeline/rulebook/html/index.et.html">Projekti reeglistik</a></li></ul></li><li class="clearfix"><a href="/euro/digital_euro/faqs/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li><li class="clearfix"><span>Sularaha</span></li><li class="has-subpages"><a href="/euro/cash_strategy/html/index.et.html">Eurosüsteemi sularahastrateegia</a><a href="#" class="subpages" title="toggle subpages for Eurosüsteemi sularahastrateegia"></a><ul><li class="clearfix"><a href="/euro/cash_strategy/cash_role/html/index.et.html">Sularaha roll</a></li><li class="clearfix"><a href="/euro/cash_strategy/issuance/html/index.et.html">Emiteerimine ja ringlus</a></li><li class="clearfix"><a href="/euro/cash_strategy/acceptance-cash/html/index.et.html">Juurdepääs sularahale ja selle aktsepteerimine maksevahendina</a></li><li class="clearfix"><a href="/euro/cash_strategy/faqs/html/index.et.html">Korduma kippuvad küsimused</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/html/index.et.html">Pangatähed</a><a href="#" class="subpages" title="toggle subpages for Pangatähed"></a><ul><li class="has-subpages"><a href="/euro/banknotes/future_banknotes/html/index.et.html">Uued pangatähed</a><a href="#" class="subpages" title="toggle subpages for Uued pangatähed"></a><ul><li class="clearfix"><a href="/euro/banknotes/future_banknotes/redesign/html/index.et.html">Kujunduse muutmise protsess</a></li></ul></li><li class="has-subpages"><a href="/euro/banknotes/current/html/index.et.html">Praegu ringluses olevad pangatähed</a><a href="#" class="subpages" title="toggle subpages for Praegu ringluses olevad pangatähed"></a><ul><li class="clearfix"><a href="/euro/banknotes/current/denominations/html/index.et.html">Nimiväärtused</a></li><li class="clearfix"><a href="/euro/banknotes/current/design/html/index.et.html">Kujunduselemendid</a></li><li class="clearfix"><a href="/euro/banknotes/current/security/html/index.et.html">Turvaelemendid</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/ac/html/index.et.html">Võltsimisvastane tegevus</a></li><li class="clearfix"><a href="/euro/banknotes/production/html/index.et.html">Pangatähtede tootmine ja varud</a></li><li class="clearfix"><a href="/euro/banknotes/damaged/html/index.et.html">Kahjustatud ja tindiplekkidega pangatähed</a></li><li class="has-subpages"><a href="/euro/banknotes/environmental/html/index.et.html">Keskkond, tervishoid ja ohutus</a><a href="#" class="subpages" title="toggle subpages for Keskkond, tervishoid ja ohutus"></a><ul><li class="clearfix"><a href="/euro/banknotes/environmental/pef/html/index.et.html">Toote keskkonnajalajälg</a></li></ul></li><li class="clearfix"><a href="/euro/banknotes/research/html/index.et.html">Teadus- ja arendustegevus</a></li><li class="clearfix"><a href="/euro/banknotes/images/html/index.et.html">Pangatähtede pildid ja reprodutseerimiseeskirjad</a></li><li class="clearfix"><a href="/euro/banknotes/info/html/index.et.html">Teabe- ja koolitusmaterjalid</a></li></ul></li><li class="has-subpages"><a href="/euro/coins/html/index.et.html">Mündid</a><a href="#" class="subpages" title="toggle subpages for Mündid"></a><ul><li class="clearfix"><a href="/euro/coins/2euro/html/index.et.html">2 €</a></li><li class="clearfix"><a href="/euro/coins/1euro/html/index.et.html">1 €</a></li><li class="clearfix"><a href="/euro/coins/50cents/html/index.et.html">50 senti</a></li><li class="clearfix"><a href="/euro/coins/20cents/html/index.et.html">20 senti</a></li><li class="clearfix"><a href="/euro/coins/10cents/html/index.et.html">10 senti</a></li><li class="clearfix"><a href="/euro/coins/5cents/html/index.et.html">5 senti</a></li><li class="clearfix"><a href="/euro/coins/2cents/html/index.et.html">2 senti</a></li><li class="clearfix"><a href="/euro/coins/1cent/html/index.et.html">1 sent</a></li><li class="clearfix"><a href="/euro/coins/common/html/index.et.html">Ühine külg</a></li><li class="clearfix"><a href="/euro/coins/comm/html/index.et.html">2-eurosed mälestusmündid</a></li><li class="clearfix"><a href="/euro/coins/security/html/index.et.html">Turvaelemendid</a></li><li class="clearfix"><a href="/euro/coins/collect/html/index.et.html">Meenemündid</a></li></ul></li><li class="has-subpages"><a href="/euro/changeover/html/index.et.html">Sularahale üleminek</a><a href="#" class="subpages" title="toggle subpages for Sularahale üleminek"></a><ul><li class="clearfix"><a href="/euro/changeover/croatia/html/index.et.html">Horvaatia (2023)</a></li><li class="clearfix"><a href="/euro/changeover/lithuania/html/index.et.html">Leedu (2015)</a></li><li class="clearfix"><a href="/euro/changeover/latvia/html/index.et.html">Läti (2014)</a></li><li class="clearfix"><a href="/euro/changeover/estonia/html/index.et.html">Eesti (2011)</a></li><li class="clearfix"><a href="/euro/changeover/slovakia/html/index.et.html">Slovakkia (2009)</a></li><li class="clearfix"><a href="/euro/changeover/cyprus/html/index.et.html">Küpros (2008)</a></li><li class="clearfix"><a href="/euro/changeover/malta/html/index.et.html">Malta (2008)</a></li><li class="clearfix"><a href="/euro/changeover/slovenia/html/index.et.html">Sloveenia (2007)</a></li><li class="clearfix"><a href="/euro/changeover/2002/html/index.et.html">Sularahale üleminek 2002. aastal</a></li></ul></li><li class="has-subpages"><a href="/euro/exchange/html/index.et.html">Liikmesriigi vääringu vahetamine euro vastu</a><a href="#" class="subpages" title="toggle subpages for Liikmesriigi vääringu vahetamine euro vastu"></a><ul><li class="clearfix"><a href="/euro/exchange/au/html/index.et.html">Austria</a></li><li class="clearfix"><a href="/euro/exchange/be/html/index.et.html">Belgia</a></li><li class="clearfix"><a href="/euro/exchange/hr/html/index.et.html">Horvaatia</a></li><li class="clearfix"><a href="/euro/exchange/cy/html/index.et.html">Küpros</a></li><li class="clearfix"><a href="/euro/exchange/et/html/index.et.html">Eesti</a></li><li class="clearfix"><a href="/euro/exchange/fi/html/index.et.html">Soome</a></li><li class="clearfix"><a href="/euro/exchange/fr/html/index.et.html">Prantsusmaa</a></li><li class="clearfix"><a href="/euro/exchange/de/html/index.et.html">Saksamaa</a></li><li class="clearfix"><a href="/euro/exchange/gr/html/index.et.html">Kreeka</a></li><li class="clearfix"><a href="/euro/exchange/ir/html/index.et.html">Iirimaa</a></li><li class="clearfix"><a href="/euro/exchange/it/html/index.et.html">Itaalia</a></li><li class="clearfix"><a href="/euro/exchange/lv/html/index.et.html">Läti</a></li><li class="clearfix"><a href="/euro/exchange/lt/html/index.et.html">Leedu</a></li><li class="clearfix"><a href="/euro/exchange/lu/html/index.et.html">Luksemburg</a></li><li class="clearfix"><a href="/euro/exchange/mt/html/index.et.html">Malta</a></li><li class="clearfix"><a href="/euro/exchange/nl/html/index.et.html">Madalmaad</a></li><li class="clearfix"><a href="/euro/exchange/pt/html/index.et.html">Portugal</a></li><li class="clearfix"><a href="/euro/exchange/slovakia/html/index.et.html">Slovakkia</a></li><li class="clearfix"><a href="/euro/exchange/sl/html/index.et.html">Sloveenia</a></li><li class="clearfix"><a href="/euro/exchange/es/html/index.et.html">Hispaania</a></li></ul></li><li class="clearfix"><a href="/euro/visually/html/index.et.html">Teave vaegnägijatele</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/pub/html/index.et.html">Uurimistegevus</a><a href="#" class="subpages" title="toggle subpages for Uurimistegevus"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Uurimistegevus</div> <p>Põhjalikud uuringud ja ekspertanalüüsid, mis hõlmavad erinevaid teemasid ja valdkondi</p> <a href="/pub/html/index.en.html">EKP uuringute ülevaade</a> <hr> <div class="nav-title">Lingid</div> <ul>  <li><a href="/press/conferences/html/index.en.html">Konverentsid ja seminarid</a></li> <li><a href="/pub/economic-research/programmes/html/index.en.html">Võimalused majandusuurijatele</a></li> </ul> </div><a href="/press/research-publications/resbull/html/index.en.html" class="item image"> <img src="/pub/html/index/research-bulletin_2560x800.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"> <div class="image-caption">Uuringute bülletäänid</div> </a></div></div><ul><li class="has-subpages"><a href="/pub/economic-research/html/index.et.html">Majandusuuringud</a><a href="#" class="subpages" title="toggle subpages for Majandusuuringud"></a><ul><li class="has-subpages"><a href="/pub/economic-research/research_agenda/html/index.et.html">Uuringute kava</a><a href="#" class="subpages" title="toggle subpages for Uuringute kava"></a><ul><li class="clearfix"><a href="/pub/economic-research/research_agenda/monetary_policy/html/index.et.html">Rahapoliitika, strateegia ja rakendamine</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/fiscal_policy/html/index.et.html">Eelarvepoliitika ja juhtimine majandus- ja rahaliidus</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/international/html/index.et.html">Rahvusvaheline makromajandus ja rahandus</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/real_sector/html/index.et.html">Reaalsektor ja mikromajanduslik analüüs</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/forecasting/html/index.et.html">Prognoosimine ja majandustsükli analüüs</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/macro-finance/html/index.et.html">Makrotasandi rahandus, süsteemne risk ja makrotasandi usaldatavusjärelevalve poliitika</a></li><li class="clearfix"><a href="/pub/economic-research/research_agenda/financial_institutions/html/index.et.html">Finantsasutused, mikrotasandi usaldatavusjärelevalve poliitika, finantsturud ja maksed</a></li></ul></li><li class="has-subpages"><a href="/pub/economic-research/programmes/html/index.et.html">Võimalused majandusuurijatele</a><a href="#" class="subpages" title="toggle subpages for Võimalused majandusuurijatele"></a><ul><li class="clearfix"><a href="/pub/economic-research/programmes/duisenberg/html/index.et.html">Wim Duisenbergi stipendium</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/visitors/html/index.et.html">Korralised külalisteadlased</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/lamfalussy/html/index.et.html">Lamfalussy stipendium</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/graduate/html/index.et.html">Suvine teadusuuringute programm</a></li><li class="clearfix"><a href="/pub/economic-research/programmes/traineeship/html/index.et.html">Üliõpilaste praktikavõimalused</a></li></ul></li></ul></li><li class="has-subpages"><a href="/pub/legal-research/html/index.et.html">Õigusalased uuringud</a><a href="#" class="subpages" title="toggle subpages for Õigusalased uuringud"></a><ul><li class="clearfix"><a href="/pub/legal-research/legal-conferences-and-seminars/html/index.et.html">Õigusalased konverentsid ja seminarid</a></li><li class="clearfix"><a href="/pub/legal-research/legal-research-programme/html/index.et.html">Õigusuuringute programm</a></li></ul></li><li class="has-subpages"><a href="/pub/research/html/index.et.html">Teadus- ja üldtoimetised</a><a href="#" class="subpages" title="toggle subpages for Teadus- ja üldtoimetised"></a><ul><li class="clearfix"><a href="/pub/research/authors/html/index.et.html">Autori järgi</a></li></ul></li><li class="clearfix"><a href="/pub/researchers/html/index.et.html">EKP majandusuurijad</a></li><li class="clearfix"><a href="/pub/research-networks/html/index.et.html">Teadusuuringute võrgustikud</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/press/html/index.et.html">Uudised & väljaanded</a><a href="#" class="subpages" title="toggle subpages for Uudised & väljaanded"></a><div class="nav-first-level-wrap -nav-in-first-column"><div class="nav-featured-wrap"><div class="nav-featured"> <div class="item"> <div class="title">Uudised ja väljaanded</div><a href="/press/pubbydate/html/index.en.html">Kõik uudised ja väljaanded</a><hr> </div> </div><ul><li><span>Uudised</span></li><li><a href="/press/pr/html/index.et.html">Pressiteated</a></li><li><a href="/press/stats/html/index.et.html">Statistikateemalised pressiteated</a></li><li><a href="/press/key/html/index.et.html">Kõned</a></li><li><a href="/press/inter/html/index.et.html">Intervjuud</a></li><li><a href="/press/blog/html/index.et.html">EKP blogi</a></li><li><a href="/press/tvservices/html/index.et.html">TV</a></li><li><a href="/press/intro/html/index.et.html">Maksete valdkonna arengud ja sündmused</a></li><li><a href="/press/contacts/html/index.et.html">Kontaktandmed</a></li></ul></div><ul><li class="clearfix"><span>Väljaanded</span></li><li class="has-subpages"><a href="/press/govcdec/html/index.et.html">EKP nõukogu otsused</a><a href="#" class="subpages" title="toggle subpages for EKP nõukogu otsused"></a><ul><li class="clearfix"><a href="/press/govcdec/mopo/html/index.et.html">Rahapoliitilised otsused</a></li><li class="clearfix"><a href="/press/govcdec/otherdec/html/index.et.html">Muud otsused</a></li></ul></li><li class="clearfix"><a href="/press/accounts/html/index.et.html">Rahapoliitikaistungite protokollid</a></li><li class="has-subpages"><a href="/press/economic-bulletin/html/index.et.html">EKP majandusülevaade</a><a href="#" class="subpages" title="toggle subpages for EKP majandusülevaade"></a><ul><li class="clearfix"><a href="/press/economic-bulletin/articles/html/index.et.html">Artiklid</a></li><li class="clearfix"><a href="/press/economic-bulletin/focus/html/index.et.html">Fookus</a></li><li class="clearfix"><a href="/press/economic-bulletin/mb/html/index.et.html">EKP kuubülletään</a></li></ul></li><li class="clearfix"><a href="/press/projections/html/index.et.html">Makromajanduslik ettevaade</a></li><li class="has-subpages"><a href="/press/annual-reports-financial-statements/html/index.et.html">Aasta- ja finantsaruanded</a><a href="#" class="subpages" title="toggle subpages for Aasta- ja finantsaruanded"></a><ul><li class="has-subpages"><a href="/press/annual-reports-financial-statements/annual/html/index.et.html">Aastaaruanne</a><a href="#" class="subpages" title="toggle subpages for Aastaaruanne"></a><ul><li class="clearfix"><a href="/press/annual-reports-financial-statements/annual/annual-accounts/html/index.et.html">Raamatupidamise aastaaruanne</a></li><li class="has-subpages"><a href="/press/annual-reports-financial-statements/annual/balance/html/index.et.html">Eurosüsteemi konsolideeritud bilanss</a><a href="#" class="subpages" title="toggle subpages for Eurosüsteemi konsolideeritud bilanss"></a><ul><li class="clearfix"><a href="/press/annual-reports-financial-statements/annual/balance/mpo/html/index.et.html">Rahapoliitilised operatsioonid</a></li></ul></li></ul></li><li class="has-subpages"><a href="/press/annual-reports-financial-statements/wfs/html/index.et.html">Iganädalased finantsaruanded</a><a href="#" class="subpages" title="toggle subpages for Iganädalased finantsaruanded"></a><ul><li class="clearfix"><a href="/press/annual-reports-financial-statements/wfs/dis/html/index.et.html">Struktureeritud andmed</a></li></ul></li></ul></li><li class="has-subpages"><a href="/press/financial-stability-publications/html/index.et.html">Finantsstabiilsuse valdkonna väljaanded</a><a href="#" class="subpages" title="toggle subpages for Finantsstabiilsuse valdkonna väljaanded"></a><ul><li class="has-subpages"><a href="/press/financial-stability-publications/fsr/html/index.et.html">Finantsstabiilsuse ülevaade</a><a href="#" class="subpages" title="toggle subpages for Finantsstabiilsuse ülevaade"></a><ul><li class="clearfix"><a href="/press/financial-stability-publications/fsr/special/html/index.et.html">Teemakäsitlused</a></li></ul></li><li class="clearfix"><a href="/press/financial-stability-publications/macroprudential-bulletin/html/index.et.html">EKP makrotasandi usaldatavusjärelevalve ülevaade</a></li></ul></li><li class="has-subpages"><a href="/press/research-publications/html/index.et.html">Väljaanded</a><a href="#" class="subpages" title="toggle subpages for Väljaanded"></a><ul><li class="clearfix"><a href="/press/research-publications/resbull/html/index.et.html">Uuringute bülletään</a></li><li class="clearfix"><a href="/press/research-publications/working-papers/html/index.et.html">Toimetised</a></li><li class="clearfix"><a href="/press/research-publications/discussion-papers/html/index.et.html">Aruteludokumendid</a></li><li class="clearfix"><a href="/press/research-publications/occasional-papers/html/index.et.html">Üldtoimetised</a></li><li class="clearfix"><a href="/press/research-publications/legal-working-papers/html/index.et.html">Õigusalased teadustoimetised</a></li><li class="clearfix"><a href="/press/research-publications/statistics-papers/html/index.et.html">Statistikatoimetised</a></li></ul></li><li class="has-subpages"><a href="/press/other-publications/html/index.et.html">Muud väljaanded</a><a href="#" class="subpages" title="toggle subpages for Muud väljaanded"></a><ul><li class="clearfix"><a href="/press/other-publications/mep-letters/html/index.et.html">Kirjad Euroopa Parlamendi liikmetele</a></li><li class="clearfix"><a href="/press/other-publications/convergence/html/index.et.html">Lähenemisaruanne</a></li><li class="clearfix"><a href="/press/other-publications/ire/html/index.et.html">Euro rahvusvaheline roll</a></li></ul></li><li class="clearfix"><span>Sündmused ja ajakavad</span></li><li class="has-subpages"><a href="/press/press_conference/html/index.et.html">Pressikonverents</a><a href="#" class="subpages" title="toggle subpages for Pressikonverents"></a><ul><li class="clearfix"><a href="/press/press_conference/monetary-policy-statement/html/index.et.html">Pressikonverentsid</a></li><li class="clearfix"><a href="/press/press_conference/visual-mps/html/index.et.html">Rahapoliitikaotsuste ülevaated</a></li></ul></li><li class="has-subpages"><a href="/press/conferences/html/index.et.html">Konverentsid ja seminarid</a><a href="#" class="subpages" title="toggle subpages for Konverentsid ja seminarid"></a><ul><li class="has-subpages"><a 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href="javascript:window.open('https://www.linkedin.com/shareArticle?url='+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on LinkedIn"></a></li> <li class="-email"><a href="javascript:window.open('mailto:?subject=I would like to share this link with you&body=Link to the website of the European Central Bank: '+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''))" title="Share by Email"></a></li> </ul> </div> </aside> <main > <div class="toBeUpdated" id="language-not-available">Ei ole eesti keeles kättesaadav</div> <div class="title"> <h1>Euro area yield curves</h1> </div> <div class="section"> <p>A yield curve is a representation of the relationship between market remuneration rates and the remaining time to maturity of debt securities. A yield curve can also be described as the term structure of interest rates. The ECB publishes several yield curves, as shown below.</p> <p>It is updated every TARGET business day at noon (12:00 CET). No data or other information are provided regarding any day on which the relevant trading venue from which the euro area yield curve data are sourced is not open for business.</p> </div> <div class="jumbo-box -top-arrow"> <div class="lower"> <div class="wrapper eayc-chart"> <div id="chart-load" class="eayc-chart"></div> </div> </div> </div> <div class="section"> <h2>ECB Data Portal</h2> <ul class="-link-icons"> <li><a href="https://data.ecb.europa.eu/data/datasets/YC?dataset%5B0%5D=Financial%20market%20data%20-%20yield%20curve%20%28YC%29&filterSequence=dataset&advFilterDataset%5B0%5D=Financial%20market%20data%20-%20yield%20curve%20%28YC%29">Yield curves</a></li> <li><a href="https://data.ecb.europa.eu/data/datasets/YC/YC.B.U2.EUR.4F.G_N_A.SV_C_YM.SR_1Y ">Yields for 1Y maturity</a></li> <li><a href="https://data.ecb.europa.eu/data/datasets/YC/YC.B.U2.EUR.4F.G_N_A.SV_C_YM.SR_5Y ">Yields for 5Y maturity</a></li> <li><a href="https://data.ecb.europa.eu/data/datasets/YC/YC.B.U2.EUR.4F.G_N_A.SV_C_YM.SR_10Y ">Yields for 10Y maturity</a></li> <li><a href="https://data.ecb.europa.eu/data/datasets/YC/YC.B.U2.EUR.4F.G_N_A.SV_C_YM.SR_20Y">Yields for 20Y maturity</a></li> <li><a href="https://data.ecb.europa.eu/data/datasets/YC/YC.B.U2.EUR.4F.G_N_A.SV_C_YM.SR_30Y">Yields for 30Y maturity</a></li> </ul> <h2>Downloads (SDMX format)</h2> <ul id="downloads" class="-link-icons"> <li> Latest release <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_A+G_N_C.SV_C_YM.?lastNObservations=1">XML</a> <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_A+G_N_C.SV_C_YM.?lastNObservations=1&format=csvdata">CSV</a> </li> <li> Current year - AAA <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_A.SV_C_YM.?startPeriod=2025-01-01">XML</a> <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_A.SV_C_YM.?startPeriod=2025-01-01&format=csvdata">CSV</a> </li> <li> Current year - euro area <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_C.SV_C_YM.?startPeriod=2025-01-01">XML</a> <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_C.SV_C_YM.?startPeriod=2025-01-01&format=csvdata">CSV</a> </li> <li> All years - AAA <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_A.SV_C_YM.?startPeriod=2004-09-06&endPeriod=2024-12-31">XML</a> <a href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_A.SV_C_YM.?startPeriod=2004-09-06&endPeriod=2024-12-31&format=csvdata">CSV</a><span class="ecb-small"> (large file)</span></li> <li> All years - euro area <a download="" href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_C.SV_C_YM.?startPeriod=2004-09-06&endPeriod=2024-12-31">XML</a> <a download="" href="https://data-api.ecb.europa.eu/service/data/YC/B.U2.EUR.4F.G_N_C.SV_C_YM.?startPeriod=2004-09-06&endPeriod=2024-12-31&format=csvdata">CSV</a><span class="ecb-small"> (large file)</span> </li> </ul> <h2>Questions?</h2> <p><a href="https://ecb-registration.escb.eu/statistical-information">Statistical information request</a> </p> <h2>General description of ECB yield curves methodology</h2> <p>A yield curve (which can also be known as the term structure of interest rates) represents the relationship between market remuneration (interest) rates and the remaining time to maturity of debt securities. The information content of a yield curve reflects the asset pricing process on financial markets. When buying and selling bonds, investors include their expectations of future inflation, real interest rates and their assessment of risks. An investor calculates the price of a bond by discounting the expected future cash flows.</p> <p>The ECB estimates zero-coupon yield curves for the euro area and derives forward and par yield curves. A zero coupon bond is a bond that pays no coupon and is sold at a discount from its face value. The zero coupon curve represents the yield to maturity of hypothetical zero coupon bonds, since they are not directly observable in the market for a wide range of maturities. The yields must therefore be estimated from existing zero coupon bonds and fixed coupon bond prices or yields. The forward curve shows the short-term (instantaneous) interest rate for future periods implied in the yield curve. The par yield reflects hypothetical yields, namely the interest rates the bonds would have yielded had they been priced at par (i.e. at 100).</p> <h3>Data availability</h3> <p>Daily yield curves are now available, with data from 6 September 2004 onwards, and are calculated and released on a daily basis according to the <a href="/ecb/contacts/working-hours/html/index.et.html">TARGET calendar</a>.</p> <h3>Data source</h3> <ul class="-link-icons"> <li><a href="http://www.euromts-ltd.com">Bond and price information provided by EuroMTS Ltd</a>. </li> <li><a href="http://www.fitchratings.com">Ratings provided by Fitch Rating</a>. </li> </ul> <h3>Selection of bonds</h3> <p>The following criteria are applied when selecting bonds:</p> <ul> <li>Only bonds issued in euro by euro area central government (European System of Accounts 2010: sector code 'S.1311') are selected.</li> <li>Bonds with special features, including specific institutional arrangements, are excluded.</li> <li>Only fixed coupon bonds with a finite maturity and zero coupon bonds are selected, including STRIPS. Perpetual bonds and variable coupon bonds, including inflation-linked bonds, are not included.</li> <li>In order to reflect a sufficient market depth, the residual maturity brackets have been fixed as ranging from three months up to and including 30 years of residual maturity.</li> </ul> <p>An outlier removal mechanism is applied to bonds that have fulfilled the above selection criteria. Bonds are removed if their yields deviate by more than twice the standard deviation from the average yield in the same maturity bracket. Afterwards, the same procedure is repeated.</p> <h3>Two credit risk yield curves</h3> <p>The spot, forward and par yield curves, and their corresponding time series, are calculated using two different datasets reflecting different credit default risks.</p> <ul> <li>One sample contains "AAA-rated" euro area central government bonds, i.e. debt securities with the most favourable credit risk assessment.</li> <li>The second dataset contains all (including AAA-rated) euro area central government bonds.</li> </ul class="-link-icons"> <p>Please refer to the <a href="/stats/financial_markets_and_interest_rates/euro_area_yield_curves/shared/pdf/technical_notes.pdf">yield curve technical notes file</a> for further technical details.</p> <p> <a href="/pub/pdf/other/pp95-103_mb200802en.pdf" title="The new euro area yield curves">Monthly Bulletin article (February 2008)</a> </p> <p><a href="/pub/pdf/scpsps/ecb.sps27.en.pdf" data-label="inglise keel" title="The new euro area yield curves">Statistics Paper Series, No 27: "Yield curve modelling and a conceptual framework for estimating yield curves: evidence from the European Central Bank’s yield curves" (February 2018)</a></p> </div> <div class="section -disclaimer"> <h2>Disclaimer and limitation of liability</h2> <p>The content of this website section, including yields, prices and all other data or information, is made available by the ECB for public information purposes only. It is not intended to be used for any other purpose including, without limitation, calculating price/yield quotations, identifying trading opportunities or as the basis for any other form of advice regarding the pricing of financial assets or identifying investment opportunities.</p> <p>The ECB aims to keep the content of this website section current and accurate, taking reasonable measures to update this site every TARGET business day at noon (12 p.m. CET). An update may however be delayed on the same TARGET business day or postponed to the following TARGET business day, for example when a TARGET business day falls on a public holiday observed by the ECB. No data or other information can be provided regarding any day which is not a business day for the relevant trading venue from which the euro area yield curve data are sourced.</p> <p>The ECB shall not be liable for any error or inaccuracy in the content of this section, for any delay in updating this section, for any action taken in reliance thereon including, without limitation, any reference made in contractual agreements, investment decisions or the results of any investments made by users of this website section. 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