On April 10, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The operation was conducted on April 11 and attracted bids from euro area eligible counterparties of €13.23 billion, €0.06 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 zero per cent in accordance with current ECB policy.
On April 12, 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 $0.04 billion, which was allotted in full at a fixed rate of 1.41 per cent.
Domestic Treasury bill market
In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day for settlement value April 13, maturing on July 13. Bids of €40 million were submitted for the 91-day bills, with the Treasury accepting €10 million. Since €10 million worth of bills matured during the week, the outstanding balance of Treasury bills remained unchanged at €225.20 million.
The yield from the 91-day bill auction was -0.352 per cent, down by 0.1 basis point from bids with a similar tenor issued on April 6, representing a bid price of €100.0891 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 bills and 182-day bills maturing on July 20 and October 19, respectively.