Money market report for the week ending April 13
On April 9, the European Central Bank announced its weekly main refinancing operation (MRO). The operation was conducted on April 10 and attracted bids from euro area eligible counterparties of €1.67 billion, €0.63 billion lower than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of zero per cent, in accordance with current ECB policy.
On April 11, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $0.08 billion, which were allotted in full at a fixed rate of 2.19 per cent.
Domestic Treasury bill market
In the domestic primary market for Treasury bills, the Treasury invited tenders for 28-day and 91-day bills for settlement value on April 12, maturing on May 10 and July 12, respectively. Bids of €23 million were submitted for the 28-day bills, with the Treasury accepting €3 million, while bids of €29 million were submitted for the 91-day bills, with the Treasury accepting €12 million. Since €8 million worth of bills matured during the week, the outstanding balance of Treasury bills increased...