For purposes of activating the financial market, improving the liquidity management and ensuring the stability of the interest rates, from May 10, 2005 the National Bank increased the maturities of the deals at the inter-bank credit auctions. It introduced 56 and 84-day auctions. The banks’ commission fee for the participation in the auction reduced from the annual 1% to 0.1%.From May 13, 2005, the National Bank will conduct its monetary operations according to the following schedule:Deposit auctions (84-day) – maximum interest rate annual 6% - auctions will be held Mondays and Fridays at 11:00 am.Repo auctions (up to 14 days) – maximum interest rate annual 4% - auctions will be held Tuesdays and Thursdays at 10:00 am.Inter-bank credit auctions (7,28 and 56 days) – maximum interest rates on the resources to be purchased by the NBG – 7-day – annual 2%, 28-day – annual 5% and 56-day – annual 6%. Auctions will be held daily at 3:00 pm.From May 13 to May 20, at each deposit auction, the NBG will purchase GEL 1.5 million, at repo auctions – GEL 2 million.