The federal government Wednesday raised Rs 170 billion through the auction for Market Treasury Bills. The State Bank of Pakistan (SBP), on October 14, 2014, conducted the auction for the sale of 3-month, 6-month and 12-month T-bills. Participation in the auction was much higher than the target of Rs 175 billion, set by the federal government for this auction and overall received bids Rs 344.137 billion with a realized amount of Rs 332.138 billion.
Some Rs 149.94 billion bids were received for 3-month and Rs 61.96 billion for 6-month MTBs. Bids amounting to Rs 120.23 billion were received for 12-month short-term government securities. The federal government borrowed per target and overall bids amounting to Rs 178.96 billion with realized value of Rs 170.679 billion were accepted.
The cut-off yield for 3-month Treasury Bills remained stable at 6.4380 percent with accepted bids worth Rs 14.78 billion (realized amount). Bids amounting to Rs 61.96 billion were accepted for 6-month at a cut-off yield of 6.4800 percent. Similarly, an amount of Rs 93.93 billion was borrowed through the sale of 12-month bids at 6.4800 percent.
The SBP has issued the following:
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(Rs In Millions)
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Maturity Period Realized Value Face Value
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03-Month 149,941.891 152,177.500
06-Month 61,961.282 63,960.000
12-Month 120,235.100 128,000.000
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Total 332,138.273 344,137.500
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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 6.4380 6.4380 14,781.000 15,000.000
06-Month 6.4800 6.4692 61,961.282 63,960.000
12-Month 6.4800 6.4715 93,937.500 100,000.000
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Total 170,679.782 178,960.000
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