Bank of Greece Tender Operations
22/03/2000 - Press Releases
The Bank of Greece announces that on Wednesday, 22 March 2000, it
conducted the following two auctions for the absorption of liquidity :
a) a regular fixed rate (9,25%) tender for 14-day deposits, in which
bids of 250 billion drachmas were accepted. Individual bids were satisfied pro rata on the
basis of an allotment ratio of 6.28 %.
b) a special fixed rate (8,90%) tender for 7-day deposits, in which
bids of 300 billion drachmas were accepted. Individual bids were satisfied pro rata on the
basis of an allotment ratio of 49.81%.
These tender operations were conducted in order to smooth out large
changes of liquidity in the interbank money market and thus moderate short-term interest
rate fluctuations. Money market liquidity conditions have been affected mainly by large
debt-service payments by the Greek Treasury on 21.3.2000. It should be noted that despite
today’s two tenders there will be sufficient liquidity in the interbank market.