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maltatoday, WEDNESDAY, 5 FEBRUARY 2014 13 BUSINESS & FINANCE ECB Monetary Operations On Monday, January 27, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, January 28, and attracted bids from euro area eligible counterparties of €115.63 billion, €0.65 billion lower 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 28, 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 24. 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 €151.21 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 0.24%. On Wednesday, January 29, the ECB conducted a three-month longer-term refinancing operation to be settled as a fixed rate tender procedure with full allotment, with the rate fixed at the average rate of the MROs over the life of the operation. The auction attracted bids of €4.96 billion from euro area eligible counterparties, which amount was allotted in full in accordance with current ECB policy. Also on Wednesday, January 29, 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% and did not attract bids from euro area eligible counterparties. Furthermore on Wednesday, January 29, the ECB, in conjunction with the US Federal Reserve, conducted an 84-day US dollar funding operation through collateralised lending. This attracted bids of $0.23 billion, which was allotted in full at a fixed rate of 0.59%. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 182-day bills maturing on August 1, 2014. Bids of €22.5 million were submitted, with the Treasury accepting all bids. Since €13.0 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €9.5 million, to stand at €285.67 million. The yield from the 182-day bill auction was 0.544%, i.e. 10.8 basis points higher than on bills with a similar tenor issued on December 20, 2013, representing a bid price of 99.7257 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 and 182-day bills maturing on May 9 and August 8, 2014, respectively. Money Market Report for the week ending January 31, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 04/02/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 13352 32746.600 15 2.470 2.450 2.450 2.451 -0.018 2.453 l CW 13000 10530.000 2 0.810 0.810 0.810 0.810 0.000 0.810 s GO 10000 19280.000 4 1.930 1.920 1.930 1.930 0.010 1.928 s LOM 1900 3610.000 3 1.900 1.900 1.900 1.900 0.040 1.900 t MDS 298 381.440 1 1.280 1.280 1.280 1.280 -0.020 1.280 l MIA 2900 6380.000 2 2.200 2.200 2.200 2.200 0.000 2.200 l MLT 23500 12690.000 3 0.540 0.540 0.540 0.540 0.000 0.540 t MTP 5989 6587.900 2 1.100 1.100 1.100 1.100 -0.020 1.100 l RS2 15902 36574.600 4 2.300 2.300 2.300 2.300 0.000 2.300 l SFC 2479 7313.050 1 2.950 2.950 2.950 2.950 0.000 2.950 t G14C 28885 29425.150 1 101.870 101.870 101.870 101.870 -0.010 101.870 t G15A 100000 107090.000 1 107.090 107.090 107.090 107.090 -0.010 107.090 t G15B 12814 13900.630 4 108.480 108.480 108.480 108.480 -0.020 108.480 t G16A 46588 52267.080 3 112.190 112.190 112.190 112.190 -0.020 112.190 t G17C 267000 294389.100 4 110.260 110.230 110.260 110.230 -0.020 110.260 t G19A 23294 28721.500 1 123.300 123.300 123.300 123.300 -0.020 123.300 l G20A 44977 52560.120 6 116.860 116.860 116.860 116.860 0.000 116.860 t G21A 27953 32330.440 1 115.660 115.660 115.660 115.660 -0.010 115.660 t G22A 23294 27090.920 1 116.300 116.300 116.300 116.300 -0.010 116.300 t G22B 77500 85327.500 6 110.100 110.100 110.100 110.100 -0.020 110.100 l G23A 4659 5629.000 1 120.820 120.820 120.820 120.820 0.000 120.820 s G28A 12000 12909.600 3 107.580 107.580 107.580 107.580 0.020 107.580 s G28B 178000 185244.600 8 104.070 104.070 104.070 104.070 0.070 104.070 s G29A 286000 318685.600 4 111.460 111.210 111.210 111.460 0.220 111.430 s G30A 426600 482567.680 7 113.230 112.930 112.980 113.230 0.220 113.120 s G31A 34000 38220.800 5 112.520 112.370 112.370 112.520 0.120 112.410 t G32A 20000 20652.000 3 103.270 103.250 103.250 103.270 -0.010 103.260 s EF20A 16500 17009.850 1 103.090 103.090 103.090 103.090 0.030 103.090 s GH20A 5100 5482.500 3 107.500 107.500 107.500 107.500 0.500 107.500 t HB17A 23300 24325.200 1 104.400 104.400 104.400 104.400 -0.100 104.400 l IH20A 6600 6847.900 2 103.760 103.750 103.760 103.750 0.000 103.760 l MB15A 21100 21944.000 3 104.000 104.000 104.000 104.000 0.000 104.000 s PC20A 4200 4463.340 1 106.270 106.270 106.270 106.270 0.270 106.270

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