$45 T-bills on offer
PA Wellington Treasury bills amounting to $45 million will be offered for sale in this week’s tender, the Reserve Bank announced yesterday.
The maturities offered are: $l5 million maturing in 224 days (mid-March), $l5 million maturing in 252 days (early April), $l5 million maturing in 273 days (late April-early May).
The bills were offered to offset the predicted net injection over the settlement week July 29, to August 4. The net injection is mainly due to Government expenditure exceeding Government revenue and forecast Government stock settlements. The March bills will coincide with provisional tax flows. The two later maturities will cover April GST and end of month payments to Government respectively. The bank expects to be conducting open market operations as usual after which the cash balance should fluctuate around the $3O million target.
The Reserve Bank intends to purchase $75 million of each of the maturities for its own portfolio. Bids must be lodged in a Reserve Bank tender box today.
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Press, 28 July 1987, Page 27
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166$45 T-bills on offer Press, 28 July 1987, Page 27
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