On Monday, April 27, the European Central Bank announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, April 28, and attracted bids from euro area eligible counterparties of €108.48 billion, €12.75 billion higher than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.05 per cent, in accordance with current ECB policy.

On Wednesday, April 29, the ECB conducted a three-month, longer-term refinancing operation to be settled as a fixed rate tender procedure with full allotment, with the rate fixed at the average rate of the MROs over the life of the operation. The auction attracted bids of €25.32 billion from euro area eligible counterparties, which amount was allotted in full in accordance with current ECB policy.

Also on Wednesday, April 29, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation was carried out at a fixed rate of 0.63 per cent and did not attract bids from euro area eligible counterparties.

In the domestic primary market for Treasury bills, the Treasury invited tenders for 92-day bills maturing on July 31. Bids of €38 million were submitted, with the Treasury accepting €14 million. Since €9 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €5 million, to stand at €206.19 million.

The yield from the 91-day bill auction was zero per cent, unchanged from the bids with a similar tenor issued on April 24, representing a bid price of 100.00 per 100 nominal.

During the week under review, there was no trading on the Malta Stock Exchange.

Today, the Treasury will invite tenders for 181-day bills, maturing on November 5.