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ÁKK sells HUF 50 bln of six-week T-bills, as planned

The Government Debt Management Agency (ÁKK) sold HUF 50 billion of discount six-week T-bills at an auction on Monday, in line with its original offer.   

Primary dealers bid for HUF 97.97 bln of the papers, state news wire MTI reported. The average yield was 0.13%, 3 basis points under the three-month secondary market benchmark, as well as the yield at the previous auction of the bills one week earlier.   

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.