Main refinancing operations

           
Operation type:    
 
Ref. No. 20260021 20260019 20260016 20260014 20260012 
Announcement date 09.03.2026 02.03.2026 23.02.2026 16.02.2026 09.02.2026 
Allotment date 10.03.2026 03.03.2026 24.02.2026 17.02.2026 10.02.2026 
Settlement date 11.03.2026 04.03.2026 25.02.2026 18.02.2026 11.02.2026 
Maturity date 18.03.2026 11.03.2026 04.03.2026 25.02.2026 18.02.2026 
Transaction type Reverse Transactions Reverse Transactions Reverse Transactions Reverse Transactions Reverse Transactions 
Operation type Provision of liquidity Provision of liquidity Provision of liquidity Provision of liquidity Provision of liquidity 
Procedure Standard Tender Standard Tender Standard Tender Standard Tender Standard Tender 
Auction type Fixed Rate Tender Fixed Rate Tender Fixed Rate Tender Fixed Rate Tender Fixed Rate Tender 
Allotment method           
Minimum bid rate / fixed rate (%)* 2,15 2,15 2,15 2,15 2,15 
Minimum bid rate (%)           
Maximum bid rate (%)           
Marginal rate (%) 2,15 2,15 2,15 2,15 2,15 
Weighted average allotment rate (%)           
Percentage of allotment at marginal rate (%) 100 100 100 100 100 
Total Amount Alloted (EUR bn) 10,2 9,3 12,8 12,4 8,5 
* The minimum rate in the longer-term refinancing operation with Ref. No. 20090112, 20100023, 20100035, and from 27.10.2010 on in all LTROs with maturity of three months and more is fixed at the average of the minimum bid rates in the main refinancing operations over the life of the LTRO. From 18.12.2012 on the bidding is conducted in the form of a spread expressed in basis points against the average MRO rate.
In USD liquidity-providing operations, the total amount alloted is expressed in USD bn. In swap operations, the field "Minimum bid rate / fixed rate (%)*" contains swap points.