Occasional Second Round Operations
If the Reserve Bank decides to undertake a second round of open market operations, it communicates this decision to market participants via the RBA pages on the electronic news services (Reuters – RBA38; Bloomberg – RBAO13). As there is no set time for such an announcement, the Bank may also alert the news services that a second round of dealing is being held.
These operations are conducted in the same way and according to the same rules as the morning operations. The only material difference is their timing. Such operations typically take place during the afternoon but may also take place during the RITS Evening Session.
- The deadline to make approaches for a second round is variable rather than the 15 minutes allowed for the morning operations. The deadline for a second round is noted at the time of an announcement on the above RBA pages.
- The Bank endeavours to respond to all bids and offers within 15 minutes of the deadline for approaches but does not guarantee to do so.
