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To: Real Man who wrote (407441)	6/29/2010 9:09:47 AM
From: Giordano Bruno	Respond to of 436258

Whole lotta shakin' going on ECB To Drain EUR55B From Bond Buys,Calls For Bids In Main Refi FRANKFURT (Dow Jones)--The European Central Bank Monday announced a quick tender for Tuesday to drain EUR55 billion of extra liquidity that went into the market from the purchases of government bonds, and it also called for bids in its weekly main refinancing operation. The ECB will launch a tender at 0930 GMT Tuesday to drain the extra liquidity in a variable rate tender with a maximum bid rate of 1.00%. The funds the ECB drains via this tender will go into one-week deposits. The EUR55 billion corresponds to the size of the Securities Markets Program--better known as the ECB's government bond purchase scheme--taking into account transactions with settlement on or before June 25, the ECB said. Separately, the ECB also called for bids in its weekly main refinancing operation at a fixed rate of 1.00%. The benchmark allotment, or the ECB's estimate of how much liquidity banks need to conduct their routine operations, is -EUR14 billion. A negative benchmark figure signals ample liquidity in the market. The ECB will allocate the weekly funds Tuesday. European Central Bank website: www.ecb.inb -By Emese Bartha, Dow Jones Newswires;