Heavy participation has witnessed in auction of government of Pakistan Market Treasury Bills (MTBs) held on Wednesday. In response of tender totalled SBP received amounted Rs 268.683 billion bids with realise value of Rs 256.483 billion bids for the sale of 3-, 6- and 12-month t-bills. Out of received bids, State Bank has accepted Rs 146.788 billion worth bids with realise amount of Rs 138.806 billion for the auction of short-term government papers.
SBP received Rs 183.757 billion worth bids for three months bills, Rs 63.32 billion for six months and Rs 21.6 billion for 12 months papers. Accepting Rs 75.06 billion worth bids the central bank has set cut-off yield of three-month at 13.4851 percent down by 4 basis points. The six-month t-bills yield was unchanged at 13.6899 percent with Rs 51.726 billion bids and for the 12-month, the cut-off yield was also remained at 13.8554 percent with Rs 20 billion bids.
SBP issued following: Tenders for Sale of 3-Months, 6-Months & 12-Months Government of Pakistan Market Treasury Bills were invited by the State Bank of Pakistan (SBP), Karachi through Primary Dealers from February 22 to 23, 2011. Bids were opened at 11:30 hours on February 23, 2011 which was received as follows:
Out of the above bids, the accepted bids are as under:
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(Rs in million)
Realised Value Face Value
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03-Month 178,222.961 183,757.000
06-Month 59,281.648 63,326.500
12-Months 18,978.730 21,600.000
Total 256,483.339 268,683.500
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Maturity Cut - Off Weighted Realised Face Value
Period Yield Avg. Yield Amount
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03-Month* 13.4851 13.4448 72,809.185 75,062.000
06-Month 13.6899 13.6750 48,424.538 51,726.500
12-Months 13.8554 13.8473 17,573.240 20,000.000
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Total 138,806.963 146,788.500
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-- Total Amount offered in 3-Months at Price 96.99 per 100 was Rs 75,070.00 Mio, out of which Ministry of Finance accepted Rs 31,050.00 Mio on pro-rata basis.
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