The State Bank of Pakistan (SBP) on Tuesday accepted bids worth Rs 162.815 billion for the sale of 3-months, 6-months & 12-months Government of Pakistan Market Treasury Bills (MTBs). Heavy participation has witnessed in the T-bills auction, as Market Treasury Bills fetched Rs 288 billion worth bids.
In response to SBP's tender, overall Rs 288.054 billion with a realised amount of Rs 265.89 billion bids were received through Primary Dealers from March 21 to 22, 2011. However, SBP accepted bids worth Rs 162.815 billion with a realised amount of Rs 149.134 billion.
SBP set a cut-off yield 13.2542 percent for the sale of 3-month MTBs and accepted bids worth Rs 3.875 billion. For the 6-month the state bank accepted Rs 98.365 billion bids with 13.6441 percent cut-of yield. Similarly, a cut-of yield of 13.8035 percent was set for the 12-month period MTBs with Rs 60.575 billion bids.
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SBP issued following:
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(Rs In Millions)
Realised Value Face Value
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03-Month 59,169.240 60,989.500
06-Month 116,313.634 124,215.000
12-Months 90,407.950 102,850.000
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Total 265,890.824 288,054.500
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Out of the above bids, the accepted bids are as under:
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Maturity Cut - Off Weighted Realised Face
Period Yield Avg. Yield Amount Value
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03-Month 13.2542 13.2542 3,760.300 3,875.000
06-Month 13.6441 13.6085 92,114.454 98,365.000
12-Months 13.8035 13.7726 53,259.823 60,575.000
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Total 149,134.577 162,815.000
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