$250M tender
PA Wellington The Reserve Bank will offer $lOO worth of 91-day Treasury bills and $l5O million worth of 182-day T-bills in its weekly tender today, May 23, the bank said yesterday.
A net cash withdrawal from the banking system was forecast for the week to May 30.
The main withdrawals were PAYE and excise duty payments and the projected settlement of the regular six-month Treasury-bill tender.
The withdrawals would be partially offset by maturing Treasury bills and general Government expenditure.
It was anticipated that injections would be required in open-market operations on at least two working days.
The maturities of the sellbacks offered were likely to be short-dated and include June 2, because a large injection to the banking system was forecast for that day.
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Press, 23 May 1989, Page 25
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127$250M tender Press, 23 May 1989, Page 25
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