ECB monetary operations On September 12, the European Central Bank announced the seven-day main refinancing operation (MRO). The operation was conducted on September 13 and attracted bids from euro area eligible counterparties of €3.93 billion, €0.25 million more 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 September 14, 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 $209.60 million, which was allotted in full at a fixed rate of 2.58 per cent. During the week under review, participants in the TLTRO-III operations two to 10 had the option of terminating or reducing their outstanding amount before maturity. Accordingly, on September 28, a total of € 6,491.6 million will be repaid. 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 September 15, maturing on December 15, 2022, and March 16, 2023, respectively. Bids of €64 million were...