Publication of the indicative calendar for the Eurosystem's tender operations in 2004

The European Central Bank (ECB) is today publishing the indicative calendar for the Eurosystem’s tender operations in the year 2004 – see the attached annex [pdf 49 kB].

The indicative calendar is prepared in compliance with the procedures set out in the "The Single Monetary Policy in the euro area – General documentation on Eurosystem monetary policy instruments and procedures (April 2002)". The changes to the operational framework for monetary policy regarding the timing of the reserves maintenance period and maturity of the main refinancing operations as decided by the Governing Council on 23 January 2003 have also been taken into account in this calendar.

The ECB aims at establishing conditions which ensure that counterparties in all euro area countries can participate in the main and longer-term refinancing operations. Therefore, when compiling the calendar for these operations, the ECB made the appropriate adjustments in order to take into account the bank holidays of the individual euro area countries.