ECB average refi rate 4.14 pct; marginal rate 4.11; awards 171 bln eur |
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Published
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Tue, 16 Oct 2007 10:23
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FRANKFURT (Thomson Financial) - The European Central Bank said the weighted average interest rate on accepted bids at today's main refinancing operation fell to 4.14 pct from 4.16 pct last week.The marginal rate -- the lowest rate at which bids were accepted -- was 4.11 pct, compared with 4.12 pct last week.Bids were made at rates ranging from 4.00 pct to 4.22 pct. The ECB had set a minimum bid rate of 4.00 pct.Some 78.58 pct of bids at the marginal rate were met and bids at higher rates were met in full.The ECB awarded 171 bln eur of funds at the refi. This compares with the ECB's 'benchmark' estimate that it needed to allot 153.0 bln eur for banks to be able to fulfil their minimum reserve requirements over the next week.The benchmark allotment figure was revised from a previous estimate of 150.5 bln eur.Bids for refi funds totalled 283.438 bln eur.The new refinancing operation expires on Oct 24.christoph.steitz@thomson.comcs1/cmrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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ECB average refi rate 4.16 pct; marginal rate 4.14 ; awards 163 bln eur 