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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.

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