ECB monetary operations On January 9, the European Central Bank announced the seven-day main refinancing operation (MRO). The operation was conducted on January 10 and attracted bids from euro area eligible counterparties of €0.95 billion, €0.17 billion less than the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 2.50 per cent, in accordance with current ECB policy. On January 11, 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 $0.19 billion, which was allotted in full at a fixed rate of 4.58 per cent. During the week under review, participants in the TLTRO-III operations 3 to 10 had the option of terminating or reducing their outstanding amount before maturity. Accordingly, on January 25, a total of €62.75 billion 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 January 12, maturing on April 13, and July 13, respectively. Bids of €207.45 million were submitted for the 91-day...
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