FRANKFURT (MNI) – The European Central Bank announced on Monday
that for the third month in a row no bond purchases were settled through
its Securities Market Programme.
With no new bond purchases having been settled in the week ending
June 24, the ECB said it will seek to drain E74.0 billion next week in a
quick tender to collect one-week term deposits, unchanged from the
amount sought one week earlier.
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 1.25%, 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$]
