FRANKFURT (MNI) – The European Central Bank announced on Monday
that it had settled E27 million worth of new sovereign debt purchases in
the week ending March 9 after remaining on the sidelines for three
weeks.
Taking into account the E1.523 billion in bonds that matured, the
latest ECB purchases settled last week bring the cumulative total still
on the bank’s balance sheet to E218.0 billion. As usual, the central
bank said it will seek to sterilize the entire amount through a quick
tender to collect one-week term deposits.
The deposit tender, to be held Tuesday at 1030 GMT/0630 ET, will be
conducted as a variable-rate operation with a maximum bid rate of 1.0%,
the ECB said. The fixed-term deposits can be used as collateral in the
Eurosystem’s credit operations.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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