Frankfurt reveals reforms to market operations

Under the new calendar, ECB maintenance periods will always start on the settlement day of the main refinancing operation that follows a Governing Council meeting. The bank also intends to align reserve maintenance periods with its governing council meetings.

Source: Dow Jones

The European Central Bank Friday released details of its new monetary policy operations schedule.

The changes, adopted in January and due to take effect in the first quarter of 2004, foresee a shortening in the maturity o

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