FRANKFURT (MNI) – The European Central Bank drained E108.9934
billion in a 1-day fine-tuning operation, the bank announced Tuesday.
The bank received 143 bids for the operation, totaling E110.8444
billion, which was carried out as a variable rate tender, with a maximum
bid rate of 1.00% and without a pre-set amount.
The weighted average allotment rate was 0.76%. The lowest accepted
rate was 0.55% while the highest accepted rate, or the marginal rate,
was 0.8%.
The bank conducted this operation to counter an expected “large
positive liquidity imbalance” on the last day of the reserve maintenance
period, it said Tuesday morning.
— Frankfurt bureau; +49-69-720 142; email: frankfurt@marketnews.com —
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