ÁKK sells HUF 35 bln of six-week T-bills, above plan

MNB

The Government Debt Management Agency (ÁKK) sold HUF 35 billion of discount six-week T-bills at a liquidity auction on Monday, raising its original offer by HUF 5 bln on high demand, state news wire MTI reported.

Primary dealers bid for HUF 89.23 bln of the papers. The average yield was 0.00%, 4 basis points over the three-month secondary market benchmark.

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 bills expire on December 27, after the big year-end tax payment deadlines but before the end of the calendar year, thus providing liquidity without raising year-end government debt.

The ÁKK tends to keep year-end issues low and repayments high to keep the year-end gross state debt ratio on a declining trend, as required by law, noted MTI.

Scope Assigns MOL BBB- Issuer Rating Ratings

Scope Assigns MOL BBB- Issuer Rating

Budapest Residents to Weigh in on Rákosrendező Development P... Issues

Budapest Residents to Weigh in on Rákosrendező Development P...

AutoWallis Becomes Importer of Geely Group’s Commercial EV B... Automotive

AutoWallis Becomes Importer of Geely Group’s Commercial EV B...

These Are the Most Sleep-friendly Hotels in Hungary Hotels

These Are the Most Sleep-friendly Hotels in Hungary

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.