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maltatoday, WEDNESDAY, 26 MARCH 2014 13 Business Today Money Market Report for the week ending March 21, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 25/03/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 53649 117984.740 24 2.200 2.198 2.198 2.200 -0.019 2.199 l FIM 6000 5067.000 2 0.845 0.842 0.845 0.842 0.000 0.845 l GO 5155 10503.750 4 2.050 2.000 2.000 2.050 0.000 2.038 t LOM 5000 8380.000 2 1.680 1.670 1.680 1.670 -0.030 1.676 l MDS 75406 98027.800 9 1.300 1.300 1.300 1.300 0.000 1.300 l MIA 35000 79450.000 2 2.270 2.270 2.270 2.270 0.000 2.270 t MSI 270 243.000 1 0.900 0.900 0.900 0.900 -0.090 0.900 l MTP 5275 5779.750 4 1.100 1.090 1.090 1.100 0.000 1.096 s RS2 6000 14466.760 3 2.430 2.400 2.400 2.430 0.020 2.411 l G15A 100000 106360.000 2 106.360 106.360 106.360 106.360 0.000 106.360 s G15B 33170 35740.680 2 107.750 107.750 107.750 107.750 0.020 107.750 s G16B 31000 34034.900 1 109.790 109.790 109.790 109.790 0.050 109.790 t G18A 2330 2922.050 1 125.410 125.410 125.410 125.410 -0.200 125.410 t G19C 29000 30371.700 2 104.730 104.730 104.730 104.730 -0.090 104.730 s G20B 10000 11335.000 2 113.350 113.350 113.350 113.350 0.090 113.350 s G22A 2330 2720.510 1 116.760 116.760 116.760 116.760 0.220 116.760 s G28A 52300 56515.220 4 108.140 108.000 108.000 108.140 0.370 108.060 s G28B 54000 56606.000 4 104.840 104.800 104.800 104.840 0.400 104.830 s G29A 20000 22248.000 1 111.240 111.240 111.240 111.240 0.070 111.240 s G30A 10000 11257.700 3 112.610 112.500 112.500 112.610 0.120 112.580 s G31A 5000 5565.500 1 111.310 111.310 111.310 111.310 0.330 111.310 s G32A 147000 152749.800 6 104.030 103.830 103.860 104.030 0.490 103.910 l G32BA 61500 63038.000 5 102.510 102.500 102.510 102.500 0.000 102.500 t AX24A 16200 16812.690 4 103.990 103.600 103.600 103.600 -0.350 103.780 s BV19B 64000 65635.400 3 102.560 102.550 102.550 102.560 0.010 102.560 t CF19A 700 721.000 1 103.000 103.000 103.000 103.000 -0.250 103.000 l MB15A 2500 2562.500 1 102.500 102.500 102.500 102.500 0.000 102.500 ECB Monetary Operations On Monday, March 17, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, March 18, and attracted bids from euro area eligible counterparties of €96.91 billion, €4.34 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, March 18, 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, March 14. 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 €223.23 billion, with the ECB allotting €175.50 billion, or 78.62% of the total bid amount. The marginal rate on the auction was set at 0.22%, with the weighted average rate at 0.21%. On Wednesday, March 19, 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. 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 June 20 and September 19, 2014, respectively. Bids of €26.50 million were submitted for the 91-day bills, with the Treasury accepting €1.00 million, while bids of €30.00 million were submitted for the 182-day bills, with the Treasury accepting €26.50 million. Since €1.00 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €26.50 million, to stand at €376.50 million. The yield from the 91-day bill auction was 0.365%, i.e. 1.40 basis points lower than on bills with a similar tenor issued on March 14, 2014, representing a bid price of 99.9078 per 100 nominal. The yield from the 182-day bill auction was 0.675%, i.e. 1.50 basis points lower than on bills with a similar tenor issued on February 28, 2014, representing a bid price of 99.6599 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 June 27 and September 26, 2014, respectively.

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