FRANKFURT (MNI) – The European Central Bank said Wednesday that it
has allotted $575 million in its 7-day USD liquidity providing
operation.
The central bank said it received 2 bids.
The absence of demand will ease fears that European banks’ access
to US money market has deteriorated so much as to lock them out
completely.
Last week, the 1-week dollar refinancing operation was tapped for
the first time since February with one single, unnamed institution
borrowing $500 million at a rate of 1.15.
Today’s operation was carried out at a fixed rate of 1.10%. The
Euro/USD rate was set at 1.3625.
–Frankfurt Bureau tel.: +49-69-720 142, email: frankfurt@marketnews.com
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