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IGCP holds three auctions today for Treasury Bills worth up to 2,000 ME

IGCP holds three auctions today for Treasury Bills worth up to 2,000 ME

Fifty Euro Banknote

The IGCP is holding three Treasury Bill (BT) auctions today with a total indicative amount of between 1,750 million euros and 2,000 million euros.

In a statement, the IGCP – Treasury and Public Debt Management Agency said that the maturities of the BT to be auctioned are March 15, 2024 (two months), July 19, 2024 (six months) and January 17, 2025 (12 months).

The same information indicates that today’s auction will have an additional line (BT March 2024) to the one indicated in the quarterly calendar “with the aim of promoting the market liquidity of the two-month BT line”.

In the last comparable auction, on July 19, 350 million euros were placed over six months at an average interest rate of 3.284%, up from 2.893% on March 15.

In the 12-month term, 900 million euros were placed at an average interest rate of 3.533%, also higher than the rate of 2.975% seen on March 15th.

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