Bank of France drains 3.9 bln Ffr at tender .
PARIS 1996-08-26
The Bank of France drained 3.9 billion francs at a securities repurchase tender held on Monday to allocate funds for injection into the money market on Tuesday .
It accepted bids for 44.3 billion francs in new liquidity , 3.9 billion less than the 48.2 billion leaving the market on Tuesday when a previous pact expires .
The new pact expires on September 3 .
The Bank of France said it allocated 13.4 billion francs to bidders offering Treasury bills as collateral , satisfying 3.4 percent of such demand .
It allotted a further 30.9 billion to bidders putting up private paper , satisfying 12.5 percent of this demand .
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