FRANKFURT (MNI) – The European Central Bank announced on Monday
that no new bond purchases were settled through its Securities Market
Programme last week.
With no new bond purchases having been settled in the week ending
July 8, the ECB said it will once again seek to drain E74.0 billion next
week in a quick tender to collect one-week term deposits.
The operation, to be conducted on Tuesday at 9:30 GMT, will be in
the form of a variable-rate tender with a maximum bid rate of 1.5%, the
central bank said. The liquidity will be held at the bank for one week
as a term deposit. The fixed-term deposits can be used as collateral in
the Eurosystem’s credit operations.
The central bank also said it intends to hold another
liquidity-absorbing operation next week.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com
[TOPICS: MT$$$$,M$XDS$,M$$CR$,M$$EC$,MN$MM$]
