The central bank allows the subscription of euro-denominated T-bills
to both local banks and foreign institutions with a minimum subscription of e1/4100,000 and multiples.
And then the previous months we've also seen 100 basis points and 50 basis points in June.' The more obvious reason for finding T-bills
more attractive is the rate-cut by US and Asian monetary officials, according to de Leon.
'Had they not been expecting a further rate hike, they would have placed higher bids for 12-month T-bills
rather than aggressively participating in the three-month T-bills
auction,' he said.
The government raises cash for short-term budgetary support through the T-bills
Lastly, the auction committee rejected all of the P7.378 billion worth of tenders for the 364-day T-bills
. Had the Treasury decided to fully award the securities, they would have fetched an average rate of 6.
De Leon said it helped that the Treasury reduced the volume of weekly T-bills
offering to P15 billion in the second quarter from P20 billion in the first quarter.
The new T-bills
will finance the salary scale in the public sector and meet the needs of the state for 2019.
The RBI conducts auction for G-Sec and T-Bills
on a weekly basis where five percent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding facility.
London: Fitch Ratings said Nigerian banks may find it more difficult to sustain profitability given the decline in net treasury bill (T-bill
) issuance in Nigeria's 1Q18 issuance programme.
'Whilst we expect the maturing T-bills
to be rolled over, the CBN may yet stall issuance of OMO bills.
According to the BHB chairman, the treasury bills market is expected to play a big role in enhancing liquidity in local and foreign banks that deal in Bahraini T-Bills
Khalifa said that the T-Bills
Market is one of the joint initiatives between the Central Bank of Bahrain (CBB) and Bahrain Bourse that aims to enhance and develop the capital markets sector in the Kingdom of Bahrain and increasesthe depth of the market byoffering investors with more investment options.