On Monday, April 11, the European Central Bank announced its weekly main refinancing operation (MRO). The operation was conducted on Tuesday, April 12, and attracted bids from euro area eligible counterparties of €55.71 billion, €0.30 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 0.00 per cent, in accordance with current ECB policy.

On Wednesday, April 13, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $0.03 billion, which was allotted in full at a fixed rate of 0.85 per cent.

Domestic Treasury bill market

In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day bills maturing on July 14. Bids of €62 million were submitted, with the Treasury accepting €12 million. Since €25 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €13 million, to stand at €337.65 million.

The yield from the 91-day bill auction was -0.170 per cent, down by 2.0 basis points from bids with a similar tenor issued on April 7, representing a bid price of 100.0430 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 182-day bills maturing on July 21 and October 20, respectively.