On Monday, November 7, the European Central Bank announced its weekly main refinancing operation (MRO). The operation was conducted on Tuesday, November 8, and attracted bids from euro area eligible counterparties of €31.45 billion, €1.28 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 zero per cent, in accordance with current ECB policy.

On Wednesday, November 9, 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 $0.97 billion, which was allotted in full at a fixed rate of 0.91 per cent.

Domestic Treasury bill market

In the domestic primary market for Treasury bills, the Treasury invited tenders for 27-day and 273-day bills maturing on December 7 and August 10, 2017, respectively. Bids of €40 million were submitted for the 27-day bills, with the Treasury accepting €5 million, while bids of €100 million were submitted for the 273-day bills, with the Treasury accepting €20 million. Since €35.25 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €10.25 million, to stand at €243.50 million. The yield from the 27-day bill auction was -0.394 per cent, down by 0.1 basis point from bids with a similar tenor issued on November 3, representing a bid price of 100.0296 per 100 nominal. The yield from the 273-day bill auction was -0.381 per cent, down by 6.6 basis points from bids with a similar tenor issued on September 22, representing a bid price of 100.2898 per 100 nominal.

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

Today, the Treasury will invite tenders for 28-day and 91-day bills maturing on December 15 and February 16, 2017, respectively.