FRANKFURT (MNI) – Following is the text of the ECB’s announcement
Wednesday of the details of refinancing operations with settlement in
the period from 11 July to 15 January 2013:
“The Governing Council of the European Central Bank (ECB) has today
decided to continue conducting its main refinancing operations (MROs) as
fixed rate tender procedures with full allotment for as long as
necessary, and at least until the end of the 12th maintenance period of
2012 on 15 January 2013. This procedure will also remain in use for the
Eurosystems specialterm refinancing operations with a maturity of one
maintenance period, which will continue to be conducted for as long as
needed. The fixed rate in these special-term refinancing operations will
be the same as the MRO rate prevailing at the time.
Furthermore, the Governing Council has decided to conduct the
three-month longer-term refinancing operations (LTROs) to be allotted on
25 July, 29 August, 26 September, 31 October, 28 November and 19
December 2012 as fixed rate tender procedures with full allotment. The
rates in these three-month operations will be fixed at the average rate
of the MROs over the life of the respective LTRO.”
–Frankfurt bureau tel.: +49-69-720142. Email: frankfurt@marketnews.com
[TOPICS: M$X$$$,M$$EC$,MGX$$$,M$$CR$]
