Bank declines bids
PA Wellington The Reserve Bank has declined to accept bids for $75 million of shorter-term treasury bills in its weekly tender. The bank had offered S3OM of 13-day bills and S4SM of 27day bills, but turned down all bids. A total of S42M had been bid for the 13-day bills and only S26M for the 27-day paper. The rates bid for the respective maturities were 13.6 per cent to 13.8 per cent and 13.63 per cent to 13.70 per cent. The bank did, however, sell the $80.7M it offered in longerterm bills. The bank sold $55.2M of 91-day paper at an average 13.559 per cent, and $25.5M of 183-day paper at an average 13.661 per cent. Total bids of $75.7M and $30.5M respectively had been received for the longer-term bills.
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Press, 28 June 1989, Page 34
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133Bank declines bids Press, 28 June 1989, Page 34
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