Third T-Bills Auction in 2010

The sixth auction T – bills maturity date is on 23rd March 2010, issued on 22nd September 2009, with 182 days to maturity, in the amount of 2,0 million Euros. In this regard, the Ministry of Finance through the Central Ban, being the fiscal agent of the Government of Montenegro, organized the third auction of the T-Bills in 2010, and extended the maturity of the sixth auction treasury bills by 182 days. Total offer for the sale of T-Bills amounted to 4, 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 treasury bills amounted to 6, 16 million Euros. Pursuant to the item 14, of the Standard Auction Requirements, the Ministry of Finance has the right to accept or reject any or all offers, fully or partially, including the right to accept offered amount being less than the amount determined in the call for auction. In the light of the above, the Ministry of Finance has decided to accept the offers and purchase T – Bills in the amount of 3, 16 million Euros, representing 79% of the total offer. The issuance of T – Bills and registration of purchasers with the CDA will be made on Tuesday, 23rd March. The average weighted interest rate for accepted offers is 4,34 and ranges within weighted interest rates from auction held in 2009 and 2010, amounting to 3,0% - 5,0%, being 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