Money market report for the week ended November 25
ECB monetary operations On November 21, the European Central Bank announced the seven-day main refinancing operation (MRO). The operation was conducted on November 22 and attracted bids from euro area eligible counterparties of €1.84 billion, €0.21 billion more than the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of two per cent, in accordance with current ECB policy. On November 23, the ECB conducted the six-day US dollar-funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $0.20 billion, which was allotted in full at a fixed rate of 4.08 per cent. Domestic Treasury bill market In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day and 182-day bills for settlement value November 24, maturing on February 23, and May 25, 2023, respectively. Bids of €155.40 million were submitted for the 91-day bills, with the Treasury accepting €24.20 million, while bids of €8.75 million were submitted for the 182-day bills, with the Treasury accepting €7.90 million. Since €41.50 million worth of bills matured during the week, the...