March 16, 2020 / 10:58 AM / 24 days ago

Croatia cbank boosts liquidity due to coronavirus crisis

ZAGREB, March 16 (Reuters) - The Croatian central bank said on Monday it had accepted all bids from banks worth 3.8 billion kuna ($558.51 million) at its five-year structural repo auction aimed at securing smooth liquidity.

The auction was held at a fixed interest rate of 0.25%. The maturity date for the loans is March 18, 2025.

A previous similar operation to boost liquidity was held at the end of 2018.

The central bank is also holding an auction of selling euros to the banks to counter depreciation pressures on the national kuna currency. The results are expected after 1200 GMT. The kuna was quoted at around 7.60 to the euro before the intervention.

Last week the central bank sold 1.214 billion euros ($1.36 billion) to banks to counter depreciation pressures on the kuna. ($1 = 6.8038 kuna) ($1 = 0.8944 euros) (Reporting by Igor Ilic; Editing by Alex Richardson)

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