US dollar liquidity-providing operations of the Eurosystem in the second quarter of 2009

The Governing Council of the European Central Bank (ECB) has decided, in agreement with other central banks including the Federal Reserve, to continue conducting US dollar liquidity-providing operations at terms of 7, 28 and 84 days.

These operations will continue to take the form of repurchase operations against ECB-eligible collateral and to be carried out as fixed rate tenders with full allotment.

Given the limited demand, the operations in the form of EUR/USD foreign exchange swaps were discontinued at the end of January but could be started again in the future, if needed in view of prevailing market circumstances.

The schedule of operations until the end of June 2009 can be obtained from the ECB’s website.