Second T – Bills auction in 2010

The fifth auction T – Bills maturity date is on 16th March 2010, issued on 15th September 2009, with 182 days to maturity, in the amount of 5,0 million Euros. In this regard, the Ministry of Finance through the Central Ban, being the fiscal agent of the Government of Montenegro, organized the auction of T-Bills in 2010, and extended the maturity of the forth auction T-Bills by 182 days. Total offer for the sale of T-Bills amounted to 7, 0 million Euros. The auction was successfully implemented being attended by a larger number of domestic commercial banks, and a few banks in the region. The total demand for the purchase of T-Bills amounted to 11, 64 million Euros. The Ministry of Finance has decided to accept the offers and purchase T – Bills in the amount of 7, 0 million Euros, representing 100% of the total offer. The issuance of T – Bills and registration of purchasers with the CDA will be made on Tuesday, 16th March. The average weighted interest rate for accepted offers is 3.56% and ranges within weighted interest rates from auction held in 2009, amounting to 3,0% - 5,0%, being lower than the average weighted interest rate obtained at the first T-Bills auction in 2010, amounting to 3,96%. The average weighted interest rate is the result of interest rates ranging from the lowest of 3.0% to the highest accepted one of 3, 99%, which is lower than the highest accepted rate of 5% on previous auctions.