Announcement of longer term refinancing operation Allotment of longer term refinancing operations Settlement of longer term refinancing operations

3 ) MRO stands for main refinancing operation

MRO stands for main refinancing operation

Purchase date the date on which the sale of purchased assets by the seller to the buyer becomes effective .

Quick tender the tender procedure used by the Eurosystem for fine tuning operations when it is deemed desirable to have a rapid impact on the liquidity situation in the market .

Main refinancing operation a regular open market operation executed by the Eurosystem in the form of a reverse transaction .

Main refinancing operations are conducted through weekly standard tenders and have a maturity of two weeks . Maintenance period the period over which credit institutions compliance with reserve requirements is calculated .

As for the instruments used , reverse transactions are the main open market instrument of the Eurosystem and can be employed in all four categories of operations .

Later, in spring 1946, Operation Coronet was the planned invasion of the Kantō Plain, near Tokyo, on the Japanese island of Honshū.

Non financial corporations one of the institutional sectors in the European System of Accounts 1995 ( ESA 95 ) .

Cable Pacifico serves nine states and its main operation is in Medellín.

For this reason the maturity of the main refinancing operation of 21 December 1999 will be lengthened exceptionally to three weeks . To avoid two main refinancing operations maturing on 12 January 2000 , the maturity of the operation of 30 December 1999 will also be lengthened to three weeks .

MFIs ( monetary financial institutions ) financial institutions which together form the moneyissuing sector of the euro area .

Longer term refinancing operation a regular open market operation executed by the Eurosystem in the form of reverse transactions .

Market risk the risk of losses ( in both on and off balance sheet positions ) arising from movements in market prices .

M7 Quick tender the tender procedure used by the Eurosystem for fine tuning operations when it is deemed desirable to have a rapid impact on the liquidity situation in the market .

Euro area the area encompassing those Member States in which the euro has been adopted as the single currency in accordance with the Treaty and in which a single monetary policy is conducted under the responsibility of the relevant decision making bodies of the ECB . The euro area comprises Belgium , Germany , Spain , France , Ireland , Italy , Luxembourg , the Netherlands , Austria , Portugal and Finland .

MRi marginal interest rate for the most recent main refinancing operation settled on or before calendar day i. Where more than one main refinancing operation is conducted for settlement on the same day , a simple average of the marginal rates of the operations conducted in parallel is used .

MRi marginal interest rate for the most recent main refinancing operation settled on or before calendar day i.

By contrast with an earmarking system , the underlying assets are not earmarked for individual transactions in a pooling system . Post fixed coupon a coupon on floating rate instruments which is determined on the basis of the values taken by the reference index at a certain date ( certain dates ) during the coupon accrual period .

Currency of transaction

Currency of transaction .

the maturity of the operation

Operation Mersad and end of the war Operation Mersad ( ambush ) was the last major military operation of the war.

After the American conquest of the Marianas, daily bomber raids from the Marianas hit the mainland as part of Operation Scavenger .

Open market operation an operation executed on the initiative of the central bank in the financial market . With regard to their aims , regularity and procedures , Eurosystem open market operations can be divided into four categories main refinancing operations , longer term refinancing operations , fine tuning operations and structural operations .

Purchase price the price at which purchased assets are sold or are to be sold to the buyer by the seller . Quick tender the tender procedure used by the Eurosystem for fine tuning operations when it is deemed desirable to have a rapid impact on the liquidity situation in the market .

the maturity of the operation

the maturity of the operation

the maturity of the operation

the type of operation

the maturity of the operation

MRi marginal interest rate for the most recent main refinancing operation settled on or before calendar day i. 7.5 .

The publication of this estimate assists counterparties in preparing their bids for the forthcoming main refinancing operation .

The first main refinancing operation under the new regime will be allotted on 9 March 2004 .

i ith calendar day of the maintenance period t. MRi marginal interest rate for the most recent main refinancing operation settled on or before calendar day i. Where more than one main refinancing operation is conducted for settlement on the same day , a simple average of the marginal rates of the operations conducted in parallel is used .

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The main problem facing a military operation in Iran is the need to ensure its legitimacy.

On 18 August 1999 the main refinancing operation entered into on 4 August 1999 matures .

Repurchase agreement an arrangement whereby an asset is sold while the seller simultaneously obtains the right and obligation to repurchase it at a specific price on a future date or on demand .

As for the instruments used , reverse transactions are the main open market instrument of the Eurosystem and can be employed in all four categories of operations .

Some respondents suggest that the minimum residual maturity should be linked with the duration of the main refinancing operation , or an even longer period , such as one month .

Functional representation of the remainder operation The remainder operation can be represented using the floor function.

M2 an intermediate monetary aggregate that comprises M1 plus deposits redeemable at a period of notice of up to and including three months ( i.e. short term savings deposits ) and deposits with an agreed maturity of up to and including two years ( i.e. short term time deposits ) held with MFIs and central government .