Following the dip in the key policy rate, the cut-off yield of Market Treasury Bills (MTBs) was reduced by 27-30 basis points in the auction held on Wednesday. The State Bank of Pakistan (SBP) auctioned 3-month, 6-month & 12-month government of Pakistan MTBs on June 26. In response of the State Bank''s tender, the overall face value of the offered MTBs was Rs 187.565 billion against realised value of bids received through Primary Dealers worth Rs 177.055 billion.
However, SBP accepted bids worth Rs 152.57 billion with a realised value of Rs 143.954 billion. The cut-off yield of the 3-month MTBs declined by 27 basis points to 8.9583 percent: bids worth Rs 25.5 billion were accepted and their cumulative realised value was worth Rs 24.98 billion.
The cut-off yield for the 6-month t-bills was set at 8.9673 percent, down by 28 basis points and cumulatively bids worth Rs 58.77 billion bids were accepted. A similar decline was witnessed in the cut-off yield of 12-month MTBs which declined by 30 basis points, settling at 8.9808 percent: bids worth Rs 68.3 billion were accepted.
SBP issued following: Tenders for Sale of 3-Month, 6-Month & 12-Month Govern-ment of Pakistan Market Treasury Bills were invited by the State Bank of Pakistan, Karachi through Primary Dealers on June 26, 2013. Bids were opened at 12:00 hours on June 26, 2013 which was received as follows:
PRESS COMMUNIQUE GOVERNMENT OF PAKISTAN MARKET TREASURY BILLS
Tenders for Sale of 3-Months, 6-Months & 12-Months Government of Pakistan Market Treasury Bills were invited by the State Bank of Pakistan, Karachi through Primary Dealers on June 26, 2013. Bids were opened at 12:00 hours on June 26, 2013 which was received as follows:
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(Rs In Millions)
Realized Value Face Value
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03-Month 32,280.047 32,945.000
06-Month 71,098.168 74,270.000
12-Month 73,676.695 80,350.000
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Total 177,054.910 187,565.000
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Out of the above bids, the accepted bids are as under:
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Maturity Cut-Off Weighted Realized Face
Period Yield Avg. Yield Amount Value
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03-Month 8.9583 8.9316 24,986.406 25,500.000
06-Month 8.9673 8.9161 56,268.393 58,770.000
12-Month 8.9808 8.9563 62,699.815 68,300.000
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Total 143,954.614 152,570.000
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