1.3 Eurosystem monetary policy operations allotted

1.3 Eurosystem monetary policy operations allotted through tender procedures 1), 2)
(EUR millions; interest rates in percentages per annum)
1. Main and longer-term refinancing operations 3)
Date of
settlement
Bids
(amount)
Number of
participants
Allotment
(amount)
Fixed rate tender
procedures
Variable rate tender
procedures
Fixed rate
1
2
2016 29 June
6 July
13 July
20 July
27 July
3 Aug.
10 Aug.
17 Aug.
24 Aug.
31 Aug.
7 Sep.
14 Sep.
21 Sep.
28 Sep.
53,054
44,089
42,467
43,569
49,593
42,989
41,621
41,652
42,778
43,781
41,777
41,581
43,178
38,740
116
97
93
93
97
71
70
68
81
84
74
76
85
85
2016 28 Jan.
25 Feb.
30 Mar. 6)
31 Mar.
28 Apr.
29 June 6)
29 June 6)
30 June
28 July 7)
1 Sep. 7)
28 Sep. 6)
29 Sep. 7)
13,562
13,650
7,342
10,254
9,388
6,724
399,289
7,726
7,010
5,015
45,270
4,570
97
92
19
78
90
25
514
55
70
58
249
40
3
Main refinancing operations
4
53,054
0.00
44,089
0.00
42,467
0.00
43,569
0.00
49,593
0.00
42,989
0.00
41,621
0.00
41,652
0.00
42,778
0.00
43,781
0.00
41,777
0.00
41,581
0.00
43,178
0.00
38,740
0.00
Longer-term refinancing operations 5)
13,562
0.03
13,650
0.01
7,342
0.00
10,254
0.00
9,388
0.00
6,724
0.00
399,289
0.00
7,726
0.00
7,010
.
5,015
.
45,270
0.00
4,570
.
Running for
(...) days
Minimum
bid rate
Marginal
rate 4)
Weighted
average rate
5
6
7
8
-
-
-
7
7
7
7
7
7
7
7
7
7
7
7
7
7
-
-
-
91
91
910
91
91
819
1,456
91
91
91
1,463
84
2. Other tender operations
Date of settlement
2014 12 Mar.
19 Mar.
26 Mar.
2 Apr.
9 Apr.
16 Apr.
23 Apr.
30 Apr.
7 May
14 May
21 May
28 May
4 June
11 June
Type of
operation
1
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Collection of fixed-term deposits
Bids
(amount)
2
219,077
223,227
180,901
199,721
192,515
153,364
166,780
103,946
165,533
144,281
137,465
102,878
119,200
108,650
Number of
participants
3
159
160
138
152
156
139
139
121
158
141
148
119
140
122
Allotment Fixed rate tender
(amount)
procedures
4
175,500
175,500
175,500
175,500
172,500
153,364
166,780
103,946
165,533
144,281
137,465
102,878
119,200
108,650
Variable rate tender
procedures
Fixed rate
Minimum
bid rate
Maximum
bid rate
5
-
6
-
7
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.15
Running
for
(...) days
Marginal
Weighted
rate 4) average rate
8
0.23
0.22
0.25
0.23
0.24
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.15
9
0.21
0.21
0.22
0.21
0.22
0.23
0.23
0.24
0.23
0.24
0.24
0.25
0.24
0.13
10
7
7
7
7
7
7
7
7
7
7
7
7
7
7
Source: ECB.
1) The amounts shown may differ slightly from those in Section 1.1 owing to operations that have been allotted but not settled.
2) With effect from April 2002, split tender operations (i.e. operations with a one-week maturity conducted as standard tender procedures in parallel with a main refinancing operation) are
classified as main refinancing operations.
3) On 8 June 2000 the ECB announced that, starting from the operation to be settled on 28 June 2000, the main refinancing operations of the Eurosystem would be conducted as variable rate
tender procedures. The minimum bid rate refers to the minimum interest rate at which counterparties may place their bids. On 8 October 2008 the ECB announced that, starting from the
operation to be settled on 15 October 2008, the weekly main refinancing operations would be carried out through a fixed rate tender procedure with full allotment at the interest rate on the
main refinancing operations. On 4 March 2010 the ECB decided to return to variable rate tender procedures in the regular three-month longer-term refinancing operations, starting with
the operation to be allotted on 28 April 2010 and settled on 29 April 2010. On 10 June 2010 the ECB decided to revert back to a fixed rate tender procedure.
4) In liquidity-providing (absorbing) operations, the marginal rate refers to the lowest (highest) rate at which bids were accepted.
5) For the operations settled on 22 December 2011 and 1 March 2012, after one year counterparties have the option to repay any part of the liquidity that they have been allotted in these
operations, on any day that coincides with the settlement day of a main refinancing operation.
6) Targeted longer-term refinancing operation. Further information can be found in the ‘‘Monetary Policy’’ section of the ECB’s webpage (https://www.ecb.europa.eu) under ‘‘Instruments’’
then ‘‘Open market operations’’.
7) In this longer-term refinancing operation, the rate at which all bids are satisfied is indexed to the average minimum bid rate in the main refinancing operations over the life of the operation.
The interest rates displayed for these indexed longer-term refinancing operations have been rounded to two decimal places. For the precise calculation method, please refer to the Technical
Notes.
S 8
ECB
Statistics Bulletin - Euro Area Statistics Online • Page last updated on 29-09-2016-153300