FRANKFURT (MNI) – The European Central Bank drained E148.37810
billion in a 1-day fine-tuning operation, the bank announced Tuesday.
The bank received 147 bids for the operation, totaling E148.48010
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 0.78%. The lowest accepted
rate was 0.55% while the highest accepted rate, or the marginal rate,
was 0.80%.
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; +49-69-720142; frankfurt@marketnews.com
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