Money market report for the week ended Noember 11
ECB monetary operations On November 7, the European Central Bank announced the seven-day main refinancing operation (MRO). The operation was conducted on November 8 and attracted bids from euro area eligible counterparties of €1.55 billion, €1.56 billion less than the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of two per cent, in accordance with current ECB policy. On November 9, the ECB conducted the seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $0.20 billion, which was allotted in full at a fixed rate of 4.09 per cent. Domestic Treasury bill market In the domestic primary market for Treasury bills, the Treasury invited tenders for 27-day and 91-day bills for settlement value November 10, maturing on December 7 and February 9, 2023, respectively. Bids of €125.50 million were submitted for the 27-day bills, with the Treasury accepting €3.50 million, while bids of €57.77 million were submitted for the 91-day bills, with the Treasury accepting €20.57 million. Since €56 million worth of bills matured during the week, the...