Salu2
2009-03-30 10:13:19 * ECB: The European Central Bank announced on Monday...
ECB: The European Central Bank announced on Monday that it has allotted E25.0 billion in a 7-day liquidity-providing foreign exchange swap operation it is conducting with the Swiss National Bank, exactly matching its intended volume. The swap operations are an effort to improve liquidity in short-term Swiss franc money markets. The ECB received 48 bids for the operation, which had a pre-set maximum allotment amount of E25 billion, with the ECB meeting 100% of bids. Earlier this morning, the ECB set the price of this operation, i.e. the swap points, at -3.36 points. The reference spot rate for this operation is 1.5175; the spot rate with margin is 1.4416; and the forward rate is 1.441264. Today's operation will settle on April 01 and mature on April 08. In conducting this currency swap, the Eurosystem and the SNB will buy euros against Swiss francs in the near leg of the transaction and will simultaneously sell euro against Swiss francs in the far leg.
