Money market report for the week ended October 14

ECB monetary operations

On October 10, the European Central Bank (ECB) announced the seven-day main refinancing operation (MRO). The operation was conducted on October 11 and attracted bids from euro area eligible counterparties of €3.62 billion, €0.04 billion less than the previous week.

The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 1.25 per cent, in accordance with current ECB policy. On October 12, 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 $0.21 billion, which was allotted in full at a fixed rate of 3.33 per cent.

Domestic Treasury Bill Market

In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day and 182-day bills for settlement value October 13, maturing on January 12 and April 13, 2023, respectively. Bids of €127 million were submitted for the 91-day bills, with the Treasury accepting €35 million, while bids of €5.55 million were submitted for the 182-day bills, with the Treasury accepting €2.50 million. Since €56.50 million worth of bills matured during the week, the...