FRANKFURT (MNI) – The European Central Bank drained E201.8344
billion in a 1-day liquidity absorbing operation, the bank announced

There were 171 bidders for the operation that was conducted as a
variable rate tender, at a maximum rate of 1%, with no pre-set amount.

The weighted average allotment rate for the operation was 0.77%,
the minimum rate was 0.40% and the highest, or marginal, rate was 0.80%.

The operation was called to combat an expected large positive
liquidity imbalance. Today is the last day of the ECB’s reserve
maintenance period.

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