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Monetary policy operation

Wednesday, 3 November 2004

The Central Bank of Cyprus announces that an auction for the acceptance of deposits will be conducted on 4 November 2004, as follows:

Operation type

Liquidity absorbing

Procedure

Standard tender

Tender date   

4 November 2004

Time for submission of bids

08.00 – 09.00 a.m.

Start date       

4 November 2004

Maturity date

18 November 2004

Duration (days)

14

Auction type

Variable rate tender

Allotment method

Multiple rate

Maximum total amount of deposits

£145.000.000

Maximum bid rate

4,50%

Minimum bid amount

£100.000

Only the counterparties to the Central Bank of Cyprus monetary policy operations can participate.