FRANKFURT (MNI) – The European Central Bank announced on Monday
that no bond buys were settled through its Securities Market Programme
for the 11th consecutive week.
With no new bond purchases having been settled in the week ending
June 17 and E1.008 billion in bonds having matured, the ECB said it will
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 1.25%, it
said. The liquidity will be held at the central 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$]
