$85M T bills on offer
PA Wellington Treasury bills worth $B5 million will be offered for sale in this week’s tender, the Reserve Bank announced yesterday. This week’s offering comprises: 14 day bills Gate May) $3O million, 84 days (early August) S2OM; 91 days (mid August) S2OM, 133 days Gate September) SISM. The bills are being offered to offset the forecast net injection over the settlement week (May 13 to 19). The injection is due to Government expenditure.
.including interest on Government debt, maturing Government stock exceeding Government revenue and maturing sellbacks. The bank expects to be conducting open market operations as usual and after these, operations cash balances should fluctuate around $3O mUlion over the settlement week. The bank is also buying $3O million of late May bills, $5O million each of early and mid-August bills plus $lBO million of late September bills for its own portfolio.
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Press, 12 May 1987, Page 49
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148$85M T bills on offer Press, 12 May 1987, Page 49
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