Monetary policy operation

Wednesday, 19 January 2005

The Central Bank of Cyprus announces that an auction for the acceptance of deposits will be conducted on 20 January 2005, as follows:

Operation type	Liquidity absorbing
Procedure	Standard tender
Tender date	20 January 2005
Time for submission of bids	08.00 – 09.00 a.m.
Start date	20 January 2005
Maturity date	03 February 2005
Duration (days)	14
Auction type	Variable rate tender
Allotment method	Multiple rate
Maximum total amount of deposits	£70.000.000
Maximum bid rate	4,50%
Minimum bid amount	£100.000

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