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 from October 2009 to January 2010.
These Eurosystem operations will continue to take the form of seven-day repurchase operations against ECB-eligible collateral and to be carried out as fixed rate tenders with full allotment. Given the limited demand and the improved conditions in funding markets, the US dollar operations with a term of 84 days will be discontinued following the operation to be held on 6 October 2009 and maturing on 7 January 2010. The 84-day operations, as well as the other US dollar liquidity-providing operations that were previously discontinued, could be started again in the future if needed.
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