tender procedure

What is tender procedure?

tender procedure definition and meaning on Finance terms:
A procedure in which the central bank provides liquidity to or withdraws liquidity from the market on the basis of bids submitted by counterparties in competition with each other. The most competitive bids are satisfied with priority until the total amount of liquidity to be provided or withdrawn by the central bank is exhausted. See also
variable rate tender<


reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html