diff --git a/Lib/logging/__init__.py b/Lib/logging/__init__.py
index 7f94e39f0f5..9f436f36800 100644
--- a/Lib/logging/__init__.py
+++ b/Lib/logging/__init__.py
@@ -388,10 +388,12 @@ def usesTime(self):
     def format(self, record):
         return self._tpl.substitute(**record.__dict__)
 
+BASIC_FORMAT = "%(levelname)s:%(name)s:%(message)s"
+
 _STYLES = {
-    '%': PercentStyle,
-    '{': StrFormatStyle,
-    '$': StringTemplateStyle
+    '%': (PercentStyle, BASIC_FORMAT),
+    '{': (StrFormatStyle, '{levelname}:{name}:{message}'),
+    '$': (StringTemplateStyle, '${levelname}:${name}:${message}'),
 }
 
 class Formatter(object):
@@ -456,7 +458,7 @@ def __init__(self, fmt=None, datefmt=None, style='%'):
         if style not in _STYLES:
             raise ValueError('Style must be one of: %s' % ','.join(
                              _STYLES.keys()))
-        self._style = _STYLES[style](fmt)
+        self._style = _STYLES[style][0](fmt)
         self._fmt = self._style._fmt
         self.datefmt = datefmt
 
@@ -1629,8 +1631,6 @@ def hasHandlers(self):
 # Configuration classes and functions
 #---------------------------------------------------------------------------
 
-BASIC_FORMAT = "%(levelname)s:%(name)s:%(message)s"
-
 def basicConfig(**kwargs):
     """
     Do basic configuration for the logging system.
@@ -1704,9 +1704,12 @@ def basicConfig(**kwargs):
                     stream = kwargs.get("stream")
                     h = StreamHandler(stream)
                 handlers = [h]
-            fs = kwargs.get("format", BASIC_FORMAT)
             dfs = kwargs.get("datefmt", None)
             style = kwargs.get("style", '%')
+            if style not in _STYLES:
+                raise ValueError('Style must be one of: %s' % ','.join(
+                                 _STYLES.keys()))
+            fs = kwargs.get("format", _STYLES[style][1])
             fmt = Formatter(fs, dfs, style)
             for h in handlers:
                 if h.formatter is None:
diff --git a/Lib/test/test_logging.py b/Lib/test/test_logging.py
index 8c6e6b81167..814f68cc154 100644
--- a/Lib/test/test_logging.py
+++ b/Lib/test/test_logging.py
@@ -3337,6 +3337,22 @@ def test_no_kwargs(self):
         # level is not explicitly set
         self.assertEqual(logging.root.level, self.original_logging_level)
 
+    def test_strformatstyle(self):
+        with captured_stdout() as output:
+            logging.basicConfig(stream=sys.stdout, style="{")
+            logging.error("Log an error")
+            sys.stdout.seek(0)
+            self.assertEqual(output.getvalue().strip(),
+                "ERROR:root:Log an error")
+
+    def test_stringtemplatestyle(self):
+        with captured_stdout() as output:
+            logging.basicConfig(stream=sys.stdout, style="$")
+            logging.error("Log an error")
+            sys.stdout.seek(0)
+            self.assertEqual(output.getvalue().strip(),
+                "ERROR:root:Log an error")
+
     def test_filename(self):
         logging.basicConfig(filename='test.log')
 
diff --git a/Misc/NEWS b/Misc/NEWS
index 85571b02943..361ed4ef2b5 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -43,6 +43,9 @@ Core and Builtins
 Library
 -------
 
+- Issue #20242: Fixed basicConfig() format strings for the alternative
+  formatting styles. Thanks to kespindler for the bug report and patch.
+
 - Issues #20206 and #5803: Fix edge case in email.quoprimime.encode where it
   truncated lines ending in a character needing encoding but no newline by
   using a more efficient algorithm that doesn't have the bug.