On Monday, June 8, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted the following day and attracted bids from euro area eligible counterparties of €90.39 billion, €2.13 billion lower 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, June 10, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted one bid of $0.11 billion, which was allotted in full at a fixed rate of 0.62 per cent.

Domestic Treasury bill market

In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day bills maturing on September 11. Bids of €43 million were submitted, with the Treasury accepting €13 million. Since €1 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €12 million, to stand at €204.05 million.

The yield from the 91-day bill auction was -0.005 per cent, unchanged from bids with a similar tenor issued on June 5, representing a bid price of 100.0013 per 100 nominal.

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

Today, the Treasury will invite tenders for 91-day and 181-day bills maturing on September 18 and December 17, respectively.