ECB Calls for Bids as Euro Over-Night Index Average (EONIA) Jumps Higher
The ECB is calling for bids on a one-day liquidity providing refi tender. It did not specify the amount offered. The ECB said earlier that it is monitoring market conditions and is ready to act to "contribute to orderly conditions in the euro money market". The announcement comes as overnight interbank rates jumped up 0.155 to 4.415% this morning, compared to an average overnight rate (EONIA) of 4.2980 last Friday.