ECB Forecasts E748.0 Billion Net Drain At Tuesday’s 7-Day MRO

FRANKFURT (MNI) – The ECB Friday forecast a net drain of
E748.0 billion at Tuesday’s weekly 7-day main refinancing operation.

It said that based on its liquidity forecast Friday, the benchmark
allotment amounted to -E748.0 billion.

At the ECB’s first three-year LTRO earlier this week, the central
bank allotted a record E489.191 billion to over 500 banks, in addition
to an allotment of E169.024 billion in its weekly 7-day MRO.

The bank called for bids today on the new MRO, which will be awared
on a full allotment basis at a fixed rate of 1.0%.

— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —

[TOPICS: MT$$$$,M$$EC$,M$$FI$,M$X$$$,MGX$$$]