FRANKFURT (MNI) – The European Central Bank said Monday that it
bought no new sovereign debt in the week ending February 24, extending
the pause in its bond-buying program to two weeks.
The cumulative total on the bank’s balance sheet thus remained at
E219.5 billion. As usual, the central bank said it would seek to
sterilize the entire amount through a quick tender to collect one-week
term deposits.
The deposit tender, to be held Tuesday at 1030 GMT/0530 ET, will be
conducted as a variable-rate operation with a maximum bid rate of 1.0%,
the ECB said. The fixed-term deposits can be used as collateral in the
Eurosystem’s credit operations.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$$CR$,M$X$$$,M$XDS$,MN$MM$,M$$EC$]
