PRESS RELEASE

Additional refinancing operation with one week maturity on 27 April 2001

23 April 2001

On 27 April 2001, the ECB intends to conduct an additional refinancing operation in the form of a standard tender with a maturity of one week, specified as a variable rate tender with the same minimum bid rate as the main refinancing operation of the same date. This additional operation will be conducted in parallel with the standard main refinancing operation of 27 April 2001 and will be offered to all counterparties eligible for standard tenders. The purpose of the additional operation is purely technical. It addresses the difference between the volumes of the two outstanding main refinancing operations, which has widened significantly due to underbidding in the main refinancing operation on 10 April 2001.

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