PRESS RELEASE

Publication of the indicative calendar for the Eurosystem’s tender operations in 2005

13 August 2004

The European Central Bank (ECB) is today publishing the indicative calendar for the Eurosystem’s tender operations in 2005 (see the attached annex).

The indicative calendar has been prepared in compliance with the procedures set out in the ECB publication entitled “The implementation of monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures” (February 2004).

The ECB aims to establish conditions which ensure that counterparties in all euro area countries can participate in the Eurosystem’s main and longer-term refinancing operations. Therefore, when compiling the calendar for these operations, the ECB made the appropriate adjustments to take into account the bank holidays of the individual euro area countries.

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