The Governing Council of the ECB decided to provide US dollar one week funding over the quarter end to Eurosystem counterparties against Eurosystem-eligible collateral, applying a variable rate tender procedure and with an intended volume of USD 35 billion. During this week the overnight operations will be USD 30 billion. The operational details can be obtained from the ECB's website (www.ecb.europa.eu).
With today’s value date, the SNB will hold a US dollar repo auction with a term of 7 days for an amount of up to USD 9 billion. In so doing, it is providing its counterparties with additional US dollar liquidity over quarter end. At the same time, the SNB will temporarily reduce the maximum volume of the US dollar repo auctions with a term of 1 day (overnight) from USD 10 billion to USD 7 billion.