The federal government Wednesday raised Rs 216 billion through the auction for Market Treasury Bills (MTBs). The SBP, on March 16, 2016, conducted the auction for the sale of 3-month, 6-month and 12-month T-bills and received bids amounting to Rs 309.812 billion with a realised amount of Rs 294.812 billion. Most of bids were received for 12-month papers.
Bids amounting to Rs 21.95 billion were received for 3-month MTBs, Rs 74.562 billion for 6-month and 12-month T-bills fetched Rs 213.3 billion bids. The federal government accepted bids amounting to Rs 227.012 billion (realized value Rs 215.799) billion against the target of Rs 200 billion set for this auction.
The cut-off yield on three-month Treasury Bills remained stable at 6.1697 percent with accepted bids amounting to Rs 12.25 billion (Rs 12.079 billion realized value). The federal government borrowed Rs 52.262 billion (realized amount of Rs 50.695 billion) through the auction for 6-month MTBs at 6.2026 percent cut-off yield.
Bids amounting to Rs 162.5 billion (Rs 153.025 billion realized value) were accepted for 12-month and its cut-off yield was fixed at 6.2192 percent.
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