# Tender splitting

- Canonical URL: https://www.gerhardmerk.de/tender-splitting-2
- Post ID: 592306
- Modified: 2023-07-25T21:11:16+00:00
- Language: en

## Definition

In view of the fact that the minimum bid rate was not reached in the main refinancing operation in anticipation of an interest rate cut, the ECB also introduced seven-day operations at the same time as the two-week tender. Since April 2002, these have been regarded as main refinancing operations and are therefore also included in the calculation of the minimum reserve interest rate. This is because the banks' minimum reserves are remunerated at the average marginal allotment rate of the main refinancing operations of the relevant maintenance period. - Cf. Deutsche Bundesbank Monthly Report, March 2003, p. 17 (explanatory notes). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

## Machine-readable

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