Money Market Report for the week ending 15 July

ECB Monetary Operations

On Monday, 11 July the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The operation was conducted on Tuesday, 12 July and attracted bids from euro area eligible counterparties of €42.47bn, €1.62bn 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 0.00%, in accordance with current ECB policy.

On Wednesday, 13 July, 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 $5m, which was allotted in full at a fixed rate of 0.90%.