FRANKFURT (MNI) – The following is the verbatim of the press
release by the European Central Bank outlining the details of its
refinancing operations with settlement to April 12, 2011:
ECB ANNOUNCES DETAILS OF REFINANCING OPERATIONS
WITH SETTLEMENT FROM 19 JANUARY TO 12 APRIL 2011
The Governing Council of the European Central Bank (ECB) has today
decided to continue conducting its main refinancing operations (MROs) as
fixed rate tender procedures with full allotment for as long as
necessary, and at least until the end of the third maintenance period of
2011 on 12 April 2011. This procedure will also remain in use for the
Eurosystems specialterm refinancing operations with a maturity of one
maintenance period, which will continue to be conducted for as long as
needed, and at least until the end of the first quarter of 2011. The
fixed rate in these special-term refinancing operations will be the same
as the MRO rate prevailing at the time.
Furthermore, the Governing Council has decided to conduct the
three-month longer-term refinancing operations (LTROs) to be allotted on
26 January, 23 February and 30 March 2011 as fixed rate tender
procedures with full allotment. The rates in these three-month
operations will be fixed at the average rate of the MROs over the life
of the respective LTRO.
[TOPICS: M$$EC$,M$X$$$,M$$CR$,MT$$$$]