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ÁKK sells HUF 40 bln of six-week T-bills, over plan

The Government Debt Management Agency (ÁKK) sold HUF 40 billion of discount six-week T-bills at a liquidity auction on Monday, raising its original offer by HUF 10 bln on high demand. Primary dealers bid for HUF 92 bln of the papers.

The average yield was 0.00%, 1 basis point over the three-month secondary market benchmark and 2 bps under the average yield at the previous liquidity auction held a week earlier, state news wire MTI reported.

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.