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ÁKK to hold liquidity bill auction on Monday

The Government Debt Management Agency (ÁKK) said it will hold an auction of "liquidity bills" on April 4.

ÁKK will reoffer HUF 40 billion of a discount T-bill series expiring on May 25 at the auction.

ÁKK invites liquidity bill auctions, offering short-term discount T-bills, usually of about six weeks remaining to maturity, on a case by case basis, depending on the budget's liquidity needs. The auction will be the sixth liquidity bill auction since the start of this year.

The last liquidity auction was held on February 28 where ÁKK sold HUF 60 billion of bills expiring on April 20, HUF 10 billion more than announced after receiving bids for HUF 151.7 billion.

Average yield at the February 28 auction was 6.00%, 12bp over the closest three-month secondary market benchmark, calculated for bills expiring on June 1.

The three-month benchmark, calculated for bills expiring on July 27, stood at 5.87% on Tuesday.