Treasury bills sold, €13.4m debt made

#TreasuryBills #MinistryOfFinance #Auction #Issuance #Maturity

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Treasury bills with a maturity of 182 days worth €13.4m were sold at the fourth auction this year at an average rate of 2.67 per cent.

The total issue value amounted to €10m, whereas the submitted bids were €13.4m worth.

Maturity of the bills is 182 days, ie 12 October.

This year, there were three auctions of treasury bills with a maturity of 182 days and one with a maturity of 56 days.

Last year, there were seven auctions of treasury bills with a maturity of 182 days. In 2014, there were 12 auctions of treasury bills with a maturity of 182 days and three with a maturity of 91 days.

Treasury bills are discounted short-term securities issued by the Central Bank on behalf of the Ministry of Finance in order to maintain the current liquidity of the budget.

The bills are sold as discounted securities, in an auction, at a price lower than the nominal value, while they are repaid at nominal value on the maturity date. The difference between the nominal value and the purchase price represents interest earned on the investment.

Source: Cafe Del Montenegro