On September 29, the European Central Bank (ECB) announced the seven-day main refinancing operation (MRO). The operation was conducted on September 30 and attracted bids from euro area eligible counterparties of €8,844.00 million, €3,271.50 million less than the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 2.15%, in accordance with current ECB policy.
Also on September 30, the ECB conducted the 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 MRO rate over the life of the operation. The operation attracted bids of €5,124.00 million from euro area eligible counterparties.
On October 1, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $45.20 million, which were allotted in full at a fixed rate of 4.34%.
In the domestic primary market for Treasury bills, the Treasury invited tenders for 90-day and 364-day bills for settlement value October 2, maturing on December 31, 2025, and October 1, 2026, respectively.
Bids of €40.23 million were submitted for the 90-day bills, with the Treasury accepting €24.92 million, while bids of €33.41 million were submitted for the 364-day bills, with the Treasury accepting €9.33 million. Since €33.31 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €0.94 million, standing at €573.24 million.
The yield from the 90-day bill auction was 1.917%, decreasing by 3.00 basis points from bids with a similar tenor issued on September 25, representing a bid price of €99.5230 per €100 nominal.
The yield from the 364-day bill auction was 1.988%, decreasing by 67.70 basis points from bids with a similar tenor issued on November 21, 2024, representing a bid price of €98.0295 per €100 nominal.
During the week, there was no trading on the Malta Stock Exchange.
Today, October 7, the Treasury will invite tenders for 91-day and 182-day bills maturing on January 8 and April 9, 2026, respectively.