Money Market Report for the week ended April 30

ECB monetary operations

On April 26, the European Central Bank announced the seven-day Main Refinancing Operations (MROs). The transaction was completed on April 27 and attracted bids from eligible eurozone counterparties for 252 million euros, up 126 million euros from the previous week. The amount has been allocated in full at a fixed rate equivalent to the prevailing MRO rate of zero percent, in accordance with current ECB policy.

On April 28, the ECB proceeded with the longer-term three-month refinancing operation to be unwound in the form of a fixed rate tender procedure with full allocation, the rate being fixed at the MRO rate. average over the duration of the operation. The transaction attracted offers of 25 million euros from eligible counterparties in the euro area. Also on April 28, the ECB conducted the seven-day, 84-day US dollar funding operations through secured loans in conjunction with the US Federal Reserve. The seven-day USD transaction attracted bids of $ 113.50 million, which was allocated in full at a fixed rate of 0.33 percent. The 84-day USD trade was completed at a fixed rate of 0.34 percent and did not attract bids from eligible euro area counterparties.

Internal market for treasury bills

In the national primary treasury bill market, the Treasury issued tenders for 91-day bills and 364-day bills for a settlement value on April 29, due July 29, 2021 and April 28, 2022. , respectively. Offers of 80 million euros were made for 91-day bills, with the Treasury accepting 40 million euros, while offers of 85 million euros were made for 364-day bills, with the Treasury accepting 15 million euros. As 35 million euros in bills matured during the week, the outstanding amount of treasury bills increased by 20 million euros to 819.75 million euros.

The auction yield for the 91-day bills was -0.457 percent, an increase of 0.1 basis point from the same-grade bids issued on April 22, resulting in a bid price of € 100.1157 for 100 € nominal. The 364-day ticket auction yield was -0.430 percent, an increase of 2.3 basis points from the same-grade bids issued on March 25, resulting in a bid price of € 100.4367 for 100 € nominal.

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

Today, the Treasury will launch a call for tenders for the 91-day bills and 273-day bills maturing on August 5, 2021 and February 3, 2022, respectively.

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