On September 25, the European Central Bank announced its weekly main refinancing operation (MRO). The operation was conducted on September 26 and attracted bids from euro area eligible counterparties of €4.21 billion, €0.85 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 September 27, 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 operation attracted bids of €2.53 billion from euro area eligible counterparties. The amount was allotted in full in accordance with current ECB policy.

Also on September 27, 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 $3.22 billion, which was allotted in full at a fixed rate of 1.62 per cent.

Domestic Treasury bill market

In the domestic primary market for Treasury bills, no auction was held by the Treasury. Since €2 million worth of bills matured during the week, the outstanding balance of Treasury bills now stands at €129.40 million.

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

This week there will be no auctions for Treasury bills.

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