Government raises Rs 84 billion through MTB auction

The federal government Wednesday raised Rs 84 billion through the auction for Market Treasury Bills (MTBs). The SBP, on December 9, 2015, conducted the auction for the sale of 3-month, 6-month and 12-month T-bills and received bids amounting to Rs 168.448 billion with a realised amount of Rs 164.32 billion. Bids amounting to Rs 90.219 billion were received for 3-month MTBs, 60.947 billion for 6-month and 12-month T-bills fetched Rs 13.153 billion bids.
Rejecting all the bids of 12-month, the federal government accepted bids amounting to Rs 85.623 billion (realised value Rs 84.055) against 3-month and 6-month period MTBs. The borrowed amount is less than the actual target of Rs 150 billion set for this auction. Bids amounting to Rs 64.673 billion (realised amount) billion were accepted for 3-month and the cut-off yield remained stable at 6.3933 percent. For 6-month, bids amounting to Rs 19.382 billion (realised amount) were accepted at 6.3946 percent.