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maltatoday, WEDNESDAY, 5 MARCH 2014 13 BUSINESS & FINANCE Money Market Report for the week ending February 28, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 4/03/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 48788 114805.360 24 2.360 2.340 2.359 2.350 -0.010 2.353 l CW 19147 15509.070 2 0.810 0.810 0.810 0.810 0.000 0.810 t GHM 1000 1820.000 1 1.820 1.820 1.820 1.820 -0.030 1.820 t HSB 19608 48117.630 16 2.469 2.420 2.469 2.420 -0.030 2.454 s RS2 25500 59992.500 4 2.370 2.350 2.350 2.370 0.005 2.353 t G14B 1165 1211.830 1 104.020 104.020 104.020 104.020 -0.110 104.020 t G14C 12318 12504.000 2 101.510 101.510 101.510 101.510 -0.010 101.510 l G16A 23294 26019.400 1 111.700 111.700 111.700 111.700 0.000 111.700 t G16B 6989 7685.100 1 109.960 109.960 109.960 109.960 -0.130 109.960 t G17C 21500 23673.650 2 110.110 110.110 110.110 110.110 -0.150 110.110 t G20B 20000 22666.000 1 113.330 113.330 113.330 113.330 -0.320 113.330 t G21A 4660 5393.480 2 115.740 115.740 115.740 115.740 -0.070 115.740 t G28B 6000 6246.600 4 104.110 104.110 104.110 104.110 -0.040 104.110 s G30A 25000 28260.000 4 113.040 113.040 113.040 113.040 0.050 113.040 s G31A 50000 56385.000 2 112.770 112.770 112.770 112.770 0.040 112.770 l BV19B 2000 2050.000 1 102.500 102.500 102.500 102.500 0.000 102.500 l GC16A 22600 19210.000 1 85.000 85.000 85.000 85.000 0.000 85.000 s IB15A 56000 56280.000 1 100.500 100.500 100.500 100.500 0.500 100.500 s IH19A 3900 4026.750 1 103.250 103.250 103.250 103.250 0.250 103.250 l MD18A 8000 8480.000 1 106.000 106.000 106.000 106.000 0.000 106.000 s MI17A 1000 1038.000 1 103.800 103.800 103.800 103.800 2.800 103.800 t MO19A 700 742.350 1 106.050 106.050 106.050 106.050 -0.050 106.050 ECB Monetary Operations On Monday, February 24, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, February 25, and attracted bids from euro area eligible counterparties of €94.04 billion, €1.17 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, February 25, the ECB conducted an auction for a seven- day fixed-term deposit intended to absorb €175.50 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, February 21. 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 €195.52 billion, with the ECB allotting €175.50 billion, or 89.76% of the total bid amount. The marginal rate on the auction was set at 0.24%, with the weighted average rate at 0.23%. On Wednesday, February 26, 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 €6.30 billion from euro area eligible counterparties, which amount was allotted in full in accordance with current ECB policy. Also on Wednesday, February 26, 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 0.57% and did not attract bids from euro area eligible counterparties. Furthermore on Wednesday, February 26, the ECB, in conjunction with the US Federal Reserve, conducted an 84-day US dollar funding operation through collateralised lending. This attracted bids of $0.13 billion, which was allotted in full at a fixed rate of 0.58%. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day and 182-day bills maturing on May 30 and August 29, 2014, respectively. Bids of €15.40 million were submitted for the 91-day bills, with the Treasury accepting €1.00 million, while bids of €29.00 million were submitted for the 182-day bills, with the Treasury accepting €3.50 million. Since €5.00 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €0.50 million, to stand at €363.67 million. The yield from the 91-day bill auction was 0.360%, i.e. 3.70 basis points lower than on bills with a similar tenor issued on February 21, 2014, representing a bid price of 99.9091 per 100 nominal. The yield from the 182-day bill auction was 0.690%, i.e. 0.90 basis point higher than on bills with a similar tenor issued on February 21, 2014, representing a bid price of 99.6524 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 maturing on June 6, 2014.

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