Three eurozone central banks to trial reverse auctions of securities
France, Netherlands and Lithuania to buy securities in reverse auctions
The French, Dutch and Lithuanian central banks will begin a one-month trial of reverse auctions of securities, as part of the Eurosystem's public sector purchase programme (PSPP), they announced on October 5. In reverse auctions, sellers compete to undercut each other by lowering their offer price.
All three banks said that they would hold weekly reverse auctions for at least a month to gain experience in their use as part of the PSPP. The trials would be held "without pre-judging" whether they
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