January 29 (SeeNews) - The European Central Bank (ECB) decided to extend the 400 million euro ($433.2 million) temporary repo line with the central bank of North Macedonia by one year, to January 31, 2025, North Macedonia's central bank said on Monday.
ECB extended the temporary repo line to North Macedonia at the request of the central bank, North Macedonia's central bank said in a press release.
The original repo line was due to expire on January 15, 2023, but the deadline was extended to January 15, 2024 in late 2022. It has been established since 2020 to provide euro liquidity to financial institutions via non-euro area central banks in view of the pandemic and heightened geopolitical tensions triggered by Russia’s invasion of Ukraine.
Under a repo line, a national central bank can borrow euro up to the specified limit in exchange for adequate euro-denominated collateral.
($ = 0.9232 euro)