Press Release: Switch to variable rate tenders in main refinancing operations: some technical details

At its meeting on 8.6.00 the Governing Council of the ECB decided that, starting from the operation to be settled on 28.6.00, the main refinancing operations of the Eurosystem would be conducted as variable rate tenders, using the multiple rate auction procedure. Furthermore, the Governing Council decided to set a minimum bid rate of 4.25% for these operations.

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