Money Market Report f or the week ending 15 September

ECB Monetary Operations

On 11 September, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The operation was conducted on 12 September and attracted bids from euro area eligible counterparties of €3.99bn, €0.32bn 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 13 September, 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 $0.04bn, which was allotted in full at a fixed rate of 1.66%.

During the week under review, participants in the first, third and fifth series of targeted longer-term refinancing operations had the option of terminating or reducing their outstanding amount in these operations before maturity. Accordingly, on 27 September, a total of €3.80bn will be repaid.

Domestic Market Treasury Bill

In the domestic primary market for Treasury bills, no auction was held by the Treasury. Since €8m worth of bills matured during the week, the outstanding balance of Treasury bills now stands at €136.40m.

During the week under review, there was no trading on the Malta Stock Exchange.

This week there will be no auctions for Treasury bills.