The money was lent to 55 banks for 33 days starting on Friday at the bank's current benchmark rate of 3.75 per cent, which analysts expected to be cut later in the day by at least a half percentage point.
Tension on money markets has eased somewhat in recent days as financial markets anticipate the ECB's interest rate cut, which some said could be as much as 0.75 percentage points.
Central banks have essentially replaced interbank markets for now by providing unlimited amounts of liquidity, or cash, to ensure banks can meet minimum reserve requirements which underpin lending to the economy at large.
Money markets determine the availability of credit for vast numbers of people around the globe, from managers trying to fund their businesses to families and students seeking mortgages and personal loans. -- AFP