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ÁKK sells HUF 36 bln of six-week T-bills, below plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 36 billion of discount six-week T-bills at auction on Monday, HUF 4 bln less than its original offer, state news agency MTI reported.

Primary dealers bid for HUF 55.9 bln of the papers expiring on August 22.  The average yield was 0.18%, 5 basis points over the three-month secondary market benchmark, as well as the average yield at the previous liquidity auction held on June 11.

The liquidity discount T-bills are designed to manage the central governmentʼs short-term liquidity needs, and, accordingly, are auctioned on a case-by-case basis. 

The ÁKK held three liquidity bill auctions in May and two in June, after one auction in early January and one in late February.

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