Money market report for the week ended August 26
ECB monetary operations
On August 22, the European Central Bank (ECB) announced the seven-day main refinancing operation (MRO). The operation was conducted on August 23 and attracted bids from euro area eligible counterparties of €743.50 million, €79.50 million less than the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.50 per cent, in accordance with current ECB policy.
On August 24, 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 $168.70 million, which was allotted in full at a fixed rate of 2.58 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 August 25, maturing on November 24, 2022 and February 23, 2023, respectively.
Bids of €76.50 million were submitted for the 91-day bills, with the Treasury accepting €26.50 million, while bids of €52.50 million were submitted for the 182-day bills, with the Treasury accepting €31.50 million. Since €51.50 million worth of bills matured during...