Key data points
Last release
—
Observation period
Dec 2025
Next release
—
Forecast
—
Highest
337.32 B EUR on Dec 31, 2008
Lowest
78.10 M EUR on Jul 31, 2021
About Euro Area Refinancing Operations
The European Central Bank uses open market operations to steer interest rates, to manage the amount of liquidity in the financial system and to signal the monetary policy stance. Regular open market operations consist of one-week liquidity-providing operations in euro (main refinancing operations, or MROs) and three-month liquidity-providing operations in euro (longer-term refinancing operations, or LTROs).