Monday, August 11, 2008

ECB Launching U.S. dollar Liquidity-providing Operation

Under the auspices of the U.S. dollar term auction facility, the European Central Bank is starting a 28-day U.S. dollar liquidity-providing operation with a goal of reaching a volume of $20 billion.

Fixed rates will be the same as the marginal rate offered contemporaneously by the U.S. Federal Reserve System.

August 12 at 9:30 a.m. will be the final time bids will be accepted.

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