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13 BUSINESS & FINANCE maltatoday, WEDNESDAY, 29 JANUARY 2014 Money Market Report for the week ending January 24, 2014 ECB decisions On Friday, January 24, the Governing Council of the European Central Bank (ECB), in cooperation with the Bank of England, the Bank of Japan and the Swiss National Bank, decided on the future conduct of US dollar liquidityproviding operations. These central banks will continue to conduct US dollar liquidity-providing operations with a maturity of three months until April 30, 2014. US dollar liquidityproviding operations with a maturity of one week will continue to be conducted at least until July 31, 2014. ECB Monetary Operations On Monday, January 20, the ECB announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, January 21, and attracted bids from euro area eligible counterparties of €116.28 billion, €21.54 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.Also on Tuesday, January 21, the ECB conducted an auction for a seven-day fixed-term deposit intended to absorb €177.5 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, January 17. 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 €152.07 billion, with the ECB allotting the full amount. The marginal rate on the auction was set at 0.25%, with the weighted average rate at 0.23%. On Wednesday, January 22, 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 0.58% Regular market closed – 28/01/2014 t l t s s t s t l l t t t t t t s s s s t t s l s s s s s l l l l Symbol Code BOV CW FIM GO HSB MDI MIA MTP RS2 STUM G14A G15A G15B G16A G16B G17C G18A G19A G20A G21A G22A G22B G28A G28B G29A G30A G31A G32A AX16A BV19A CF19A GC16A GF21A Volume Traded 58658 25310 1377 28363 22693 1333 8174 2000 7166 4664 25624 11648 25236 13977 8852 17000 6989 1165 8000 40846 300 35000 268500 389500 90000 102100 149500 583900 11647 4000 5300 6500 19700 Value Traded 146591.220 20626.110 1308.150 52592.150 57821.150 375.910 17926.300 2280.000 16481.800 10260.800 25867.430 12487.820 27386.110 15682.190 9754.020 18715.300 8783.780 1434.000 9325.600 47152.620 348.390 38486.000 289147.650 405936.900 100782.000 115352.580 168217.400 605091.780 11670.290 4240.000 5504.580 5525.000 20291.000 Trades 31 4 1 11 11 1 7 1 4 3 2 2 3 1 1 2 1 1 2 4 1 2 4 9 2 3 6 11 1 1 2 2 3 High Price 2.500 0.835 0.950 1.870 2.550 0.282 2.200 1.140 2.300 2.200 100.950 107.210 108.520 112.200 110.190 110.090 125.680 123.090 116.570 115.440 116.130 109.960 107.690 104.220 111.980 112.980 112.520 103.670 100.200 106.000 103.860 85.000 103.000 Low Price 2.490 0.810 0.950 1.840 2.540 0.282 2.180 1.140 2.300 2.200 100.950 107.210 108.520 112.200 110.190 110.090 125.680 123.090 116.570 115.440 116.130 109.960 107.690 104.220 111.980 112.980 112.520 103.620 100.200 106.000 103.860 85.000 103.000 Open Price 2.500 0.810 0.950 1.840 2.550 0.282 2.180 1.140 2.300 2.200 100.950 107.210 108.520 112.200 110.190 110.090 125.680 123.090 116.570 115.440 116.130 109.960 107.690 104.220 111.980 112.980 112.520 103.670 100.200 106.000 103.860 85.000 103.000 Close Price 2.497 0.835 0.950 1.870 2.550 0.282 2.200 1.140 2.300 2.200 100.950 107.210 108.520 112.200 110.190 110.090 125.680 123.090 116.570 115.440 116.130 109.960 107.690 104.220 111.980 112.980 112.520 103.620 100.200 106.000 103.860 85.000 103.000 Change -0.003 0.000 -0.005 0.020 0.010 -0.013 0.020 -0.010 0.000 0.000 -0.020 -0.040 -0.020 -0.030 -0.010 -0.010 0.510 0.430 0.070 0.020 -0.110 -0.100 0.020 0.000 0.050 0.050 0.020 0.020 0.200 0.000 0.000 0.000 0.000 Twap 2.499 0.815 0.950 1.854 2.548 0.282 2.193 1.140 2.300 2.200 100.950 107.210 108.520 112.200 110.190 110.090 125.680 123.090 116.570 115.440 116.130 109.960 107.690 104.220 111.980 112.980 112.520 103.630 100.200 106.000 103.860 85.000 103.000 and did not attract bids from euro area eligible counterparties. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 28-day and 91-day bills maturing on February 21 and April 25, 2014, respectively. Bids of €33.0 million were submitted for the 28-day bills, with the Treasury accepting €7.0 million, while bids of €41.0 million were submitted for the 91-day bills, with the Treasury accepting €29.0 million. Since €2.0 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €34.0 million, to stand at €276.17 million. The yield from the 28-day bill auction was 0.289%, i.e. 6.0 basis points lower than on bills with a similar tenor issued on January 3, 2014, representing a bid price of 99.9775 per 100 nominal. The yield from the 91-day bill auction was 0.317%, i.e. 0.2 basis points higher than on bills with a similar tenor issued on January 17, 2014, representing a bid price of 99.9199 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange.On Tuesday the Treasury invited tenders for 182-day bills maturing on August 1, 2014. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt The rates quoted above are against the EURO.

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