Money market report for the week ended October 1
ECB monetary operations On September 27, the European Central Bank announced the seven-day main refinancing operation (MRO). The operation was conducted on September 28 and attracted bids from euro area eligible counterparties of €147 million, €103 million more than 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 September 29, the ECB conducted the three-month, longer-term refinancing operation to be settled as a fixed rate tender procedure with full allotment, with the rate fixed at the average MRO rate over the life of the operation. The operation attracted bids of €2 million from euro area eligible counterparties. In addition, on September 29, the ECB conducted the Pandemic Emergency Longer-term Refinancing Operation (PELTRO) maturing on September 29, 2022, which attracted bids from euro area eligible counterparties of €1,338.70 million. This operation was carried out as a fixed rate tender procedure with full allotment, with an interest rate that is equal to 25 basis points below the average MRO rate over the life of the PELTRO. Also on September 29, the ECB...