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- BOV Changes its Bank Base Rate in line with Central Bank
- BOV launches a new 4.4% gross p.a. deposit opportunity
- BOV reports excellent response to 4.4% deposit opportunity
- Bov loans €120 million to Enemalta Corporation
- BOV launches Euro Term Deposit at 4.55% p.a.
- An historical day as both Cyprus and Malta join the euro area
- Bank of Valletta signs up as Gozo Business Chamber Partner
- BOV now manager, registrar and underwriter in RS2 Software p.l.c. initial public offering
- BOV named Best Bank in Malta for 2008
- Amendments to the minimum reserve requirements for banks
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The Bank of Valletta has announced that it was the first Maltese bank to transact with the European Central Bank (ECB). “The transaction amounted to €28 million was effected by the Bank’s Financial Markets and Investments Division on the 3rd January during one of the first ECB fine tuning operations made following Malta’s adoption of the Euro as our national currency,” said Charles Borg, Chief Officer responsible for Financial Markets and Investment at Bank of Valletta.
In its effort to steer liquidity towards more balanced conditions needed to align short term interest rates with its main refinancing rate, the ECB yesterday conducted a quick tender operation in which it absorbed almost €200 billion at a fixed rate of 4%.
Charles Borg stated that Bank of Valletta was proud to be the first Maltese bank to participate in the monetary operations of the European Central Bank. “Indeed, the fact that we were the first Maltese Bank to participate in a transaction with the ECB confirms BOV’s leading position in our market,” added Mr. Borg.
“This important milestone marks the start of a new reality and the Bank is going to continue to be active on international markets and particularly in dealing with the ECB,” concluded Mr. Borg.
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