Examples of using Fine-tuning operations in English and their translations into Finnish
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Fine-tuning operations can be liquidity-absorbing or liquidity-providing.
By the end of 2000 the Eurosystem had conducted only two fine-tuning operations.
Counterparties selected for fine-tuning operations will be invited to participate.
Fine-tuning operations Fine-tuning operations are not executed according to any pre-specified calendar.
For operational reasons, only a limited number of selected counterparties may participate in fine-tuning operations.
Fine-tuning operations can also be executed through bilateral procedures, where the Eurosystem conducts a transaction with one or a few counterparties without a tender.
In addition, the Eurosystem can use reverse transactions for structural and fine-tuning operations.
The Governing Council also decided to carry out three additional fine-tuning operations on 30 September, 11 November and 23 December, when 6-month and 12-month refinancing operations mature.
The standard deviation of its daily changes was only 14 basis points, despite the very low frequency of fine-tuning operations.
In line with its announcement,the Eurosystem conducted two liquidity-providing fine-tuning operations in order to smooth developments in the euro money market.
The standard deviation of its daily changes was only 15 basis points,which is rather small by international standards, despite the very low frequency of fine-tuning operations.
Main refinancing operations, longer-term refinancing operations, fine-tuning operations and structural operations.
Fine-tuning operations are primarily executed as reverse transactions, but can also take the form of outright transactions, foreign exchange swaps and the collection of fixed-term deposits.
They are normally executed in a decentralised manner by the NCBs, but the Governing Council can decide whether, under exceptional circumstances, bilateral fine-tuning operations may be executed by the ECB.
In view of their purpose, fine-tuning operations are normally executed through« quick» tenders. These take one hour from their announcement to the communication of the allotment results.
Fine-tuning operations may be conducted on the last day of a reserve main tenance period to counter liquidity imbalances which may have accumulated since the allotment of the last main refinancing operation. .
Open market operations Main refinancing operations Longer-term refinancing operations Fine-tuning operations Reverse transactions Reverse transactions One week Three months Weekly Monthly Standard tenders Standard tenders Reverse transactions Foreign exchange swaps.
Fine-tuning operations are normally executed in a decentralised manner by the NCBs, but the Governing Council can decide, under exceptional circumstances, to have bilateral fine-tuning operations executed by the ECB.
Given the ongoinggenerous liquidity provision by the Eurosystem and the limited number of liquidity-absorbing fine-tuning operations, overnight interest rates continued to stand close to the rate on the deposit facility, which had been the case since the introduction of the fixed rate tender procedure with full allotment in October 2008.
Fine-tuning operations aim to manage the liquidity situation in the market and to steer interest rates, in particular in order to smooth the effects on interest rates caused by unexpected liquidity fluctuations in the market.
The resulting third sentence is replaced by the following:« Fine-tuning operations are primarily executed as reverse transactions, but may also take the form of either foreign exchange swaps or the collection of fixed-term deposits.
However, most fine-tuning operations thereafter(a total of 14) were used to counter fluctuations in liquidity conditions and the overnight rate related to the financial market turmoil within the maintenance period see Box 9.
In Chapter 1, Section 1.3.1, the third indent on« fine tuning operations» is amended as follows:( a)The following sentence is inserted after the first sentence:« Fine-tuning operations may be conducted on the last day of a reserve maintenance period to counter liquidity imbalances which may have accumulated since the allotment of the last main refinancing operation. .
This impressive legal fine-tuning operation has produced an excellent result, improving the overall editorial quality of the Constitutional text as compared with the content approved by the Convention.
The operation was conducted as a liquidity-absorbing fine-tuning operation with a one-week maturity on 5 January 2000 and was carried out by means of a collection of fixed-term deposits in a variable rate, quick tender with a preannounced maximum bid rate of 3.