Issue link: https://maltatoday.uberflip.com/i/229731
13 BUSINESS & FINANCE maltatoday, WEDNESDAY, 18 DECEMBER 2013 Money Market Report for the week ending 13 December 2013 ECB Monetary Operations On Monday, 9 December, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, 10 December, and attracted bids from euro area eligible counterparties of €98.49 billion, €3.87 billion higher than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.25%, in accordance with current ECB policy. On Tuesday, 10 December, the ECB conducted a special-term refinancing operation with a maturity of 35 days. This attracted bids of €10.14 billion, which was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.25%, also in accordance with the current ECB policy. Also on Tuesday, 10 December, the ECB conducted an auction for a seven-day fixed-term deposit intended to absorb €184.0 billion. This operation was designed to sterilise the effect of purchases made under the Securities Markets Programme that were settled but had not yet matured by the previous Friday, 6 December. The auction was carried out at a variable rate, with euro area eligible counterparties allowed to place up to four bids at a maximum rate of 0.25%. It attracted bids amounting to €186.73 billion, with the ECB allotting €184.0 billion, or 98.54%, of the total bid amount. The marginal rate on the auction was set at 0.25%, with the weighted average rate at 0.19%. On Wednesday, 11 December, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation was carried out at a fixed rate of 0.59% and did not attract bids from euro area eligible counterparties. Regular market closed – 17/12/2013 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap s BOV 43621 113853.810 7 2.625 2.610 2.610 2.610 0.010 2.610 s GO 53350 93357.500 9 1.750 1.740 1.750 1.750 0.035 HSB 9380 24191.200 6 2.580 2.570 2.570 2.570 0.010 2.579 l MIA 3900 8340.000 4 2.144 2.100 2.140 2.100 0.000 2.138 s RS2 30920 70434.400 2 2.280 2.270 2.270 2.280 0.005 2.278 t G17C 115000 126293.000 1 109.820 109.820 109.820 109.820 -0.110 109.820 s G21A 1746506 2000884.910 4 114.590 114.530 114.590 114.590 0.020 114.570 s G22A 5824 6704.010 1 115.110 115.110 115.110 115.110 0.380 115.110 s G28B 69000 70800.200 2 102.620 102.580 102.580 102.620 0.040 102.610 s G30A 500 554.400 1 110.880 110.880 110.880 110.880 0.070 110.880 l G32AA 37000 37962.000 4 102.600 102.600 102.600 102.600 0.000 102.600 t BV19A 4000 4240.000 1 106.000 106.000 106.000 106.000 -0.010 106.000 l BV19B 6000 6150.000 1 102.500 102.500 102.500 102.500 0.000 102.500 l BV20A 18300 18896.580 3 103.260 103.260 103.260 103.260 0.000 103.260 s MI14A 2000 2003.000 1 100.150 100.150 100.150 100.150 0.150 100.150 l MI15A 2000 2050.000 4 102.500 102.500 102.500 102.500 0.000 102.500 l MI17A 10000 10359.000 2 103.950 103.500 103.500 103.950 0.000 auction was 0.400%, i.e. 2.6 basis points lower than on bills with a similar tenor issued on 6 December 2013, representing a bid price of 99.8979 per 100 nominal. The yield from the 274-day bill auction was 0.584%, i.e. 2.0 basis points lower than on bills with a similar tenor issued on 25 October 2013, representing a bid price of 99.5575 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 91-day bills and 182-day bills maturing on 21 March and 20 June 2014, respectively. YOUR FIRST CLICK OF THE DAY 1.750 s Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 92-day and 274-day bills maturing on 14 March and 12 September, 2014, respectively. Bids of €38.5 million were submitted for the 92-day bills, with the Treasury accepting €5.0 million, while bids of €30.5 million were submitted for the 274-day bills, with the Treasury accepting €10.5 million. Since €43.1 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €27.6 million, to stand at €300.32 million. The yield from the 92-day bill 103.590 www.maltatoday.com.mt The rates quoted above are against the EURO.