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maltatoday, WEDNESDAY, 14 MAY 2014 13 Business Today Money Market Report for the week ending May 9, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 13/05/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap l BOV 75105 161586.830 14 2.170 2.150 2.170 2.150 0.000 2.151 l GO 4655 9020.490 4 1.969 1.911 1.930 1.969 0.000 1.938 s HSB 6445 13544.500 4 2.110 2.100 2.100 2.110 0.010 2.102 t LOM 5302 8071.760 3 1.560 1.501 1.560 1.501 -0.059 1.522 s MIA 6000 13650.500 4 2.300 2.271 2.271 2.300 0.030 2.275 s RS2 3886 9326.400 4 2.400 2.400 2.400 2.400 0.001 2.400 t G14C 42270 42548.980 2 100.660 100.660 100.660 100.660 -0.010 100.660 t G15B 14443 15471.340 1 107.120 107.120 107.120 107.120 -0.010 107.120 l G15F 11000 11501.600 2 104.560 104.560 104.560 104.560 0.000 104.560 t G16A 2330 2580.940 1 110.770 110.770 110.770 110.770 -0.030 110.770 t G17C 60000 66216.000 2 110.360 110.360 110.360 110.360 -0.100 110.360 s G20B 11000 12577.400 2 114.340 114.340 114.340 114.340 0.260 114.340 t G21A 39965 46979.470 2 117.560 117.550 117.560 117.550 -0.010 117.550 s G22A 81529 96538.490 2 118.410 118.410 118.410 118.410 0.030 118.410 l G22B 28900 32532.730 4 112.570 112.570 112.570 112.570 0.000 112.570 l G23A 2330 2837.470 1 121.780 121.780 121.780 121.780 0.000 121.780 t G28A 16500 18245.700 3 110.580 110.580 110.580 110.580 -0.010 110.580 t G28B 319000 342223.200 14 107.280 107.280 107.280 107.280 -0.040 107.280 t G29A 24000 27396.000 3 114.150 114.150 114.150 114.150 -0.050 114.150 t G30A 35100 40442.220 4 115.220 115.220 115.220 115.220 -0.070 115.220 t G32A 50000 52950.000 4 105.900 105.900 105.900 105.900 -0.020 105.900 l G32BA 687500 709835.500 12 103.290 103.200 103.290 103.250 0.000 103.250 s AX24A 127200 131027.140 6 103.100 103.000 103.010 103.100 0.090 103.010 t BV18A 4400 4620.000 1 105.000 105.000 105.000 105.000 -0.500 105.000 l BV19A 6500 6857.500 3 105.500 105.500 105.500 105.500 0.000 105.500 t BV20A 2000 2060.000 1 103.000 103.000 103.000 103.000 -0.600 103.000 s CF19A 13700 14282.250 2 104.250 104.250 104.250 104.250 0.250 104.250 s EF20A 20000 20600.000 1 103.000 103.000 103.000 103.000 0.460 103.000 t IH19A 3000 3075.000 2 102.500 102.500 102.500 102.500 0.000 102.500 t IH23A 14800 15318.000 1 103.500 103.500 103.500 103.500 0.000 103.500 t MB15A 41500 42537.500 4 102.500 102.500 102.500 102.500 0.000 102.500 t MI17C 9400 9461.000 4 101.000 100.500 101.000 100.500 0.000 100.650 s MS23B 5000 5200.000 1 104.000 104.000 104.000 104.000 2.500 104.000 ECB decisions On Thursday, May 8, the Governing Council of the European Central Bank (ECB) decided to keep the interest rate on the main refinancing operations (MRO) unchanged at 0.25%. Interest rates on the marginal lending facility and on the deposit facility were also left unchanged at 0.75% and 0.00%, respectively. ECB Monetary Operations On Monday, May 5, the ECB announced its weekly MRO. The auction was conducted on Tuesday, May 6, and attracted bids from euro area eligible counterparties of €129.14 billion, €43.48 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, May 6, the ECB conducted an auction for a seven- day fixed-term deposit intended to absorb €167.50 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, May 2. 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 €165.53 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, May 7, 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 once again 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 182-day bills maturing on June 6 and November 7, 2014, respectively. Bids of €10.40 million were submitted for the 28- day bills, with the Treasury accepting €3.00 million, while bids of €48.42 million were submitted for the 182- day bills, with the Treasury accepting €23.42 million. Since €44.00 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €17.58 million, to stand at €345.37 million. The yield from the 28-day bill auction was 0.300%, i.e. 1.10 basis points higher than on bills with a similar tenor issued on January 24, 2014, representing a bid price of 99.9767 per 100 nominal. The yield from the 182- day bill auction was 0.650%, i.e. 0.10 basis point higher than on bills with a similar tenor issued on May 2, 2014, representing a bid price of 99.6725 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 28-day and 90-day bills maturing on June 13 and August 14, 2014, respectively.

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