main refinancing operation

What is main refinancing operation?

main refinancing operation definition and meaning on Finance terms:
A regular open market operation executed by the Eurosystem (in the form of a reverse transaction) for the purpose of providing the banking system with the amount of liquidity that the former deems to be appropriate. Main refinancing operations are conducted through weekly standard tenders (in which banks can bid for liquidity) and normally have a maturity of one week. See also
open market operation
reverse transaction<