Austrian Clearingbank Auctions
Published November 19th, 2008
Austria Clearingbank (OeCAG ) has held it’s held its first auction. Clearingbank is a new money auction facility backed by the Austrian government to unfreeze Austria’s interbank lending
In Wednesday’s auction, banks could say how much 2-month and 3-month money they were either offering to lend or requesting to borrow. The Clearingbank matches those bids and guarantees the money will be repaid.
The next OeCAG auctions will be on Monday, Nov. 24, and Wednesday, Nov. 26.
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