This month, the Central Bank of Kenya(CBK) received bids worth KSh 35.9 Billion from the 91 days, 182 days, and 364 days Treasury Bills, representing a subscription rate of 149.6%.
CBK offered T-Bills worth 24 Billion and accepted bids worth KSh 35.8 Billion. Out of these, Ksh 34.5 Billion were competitive bids and KSh 1.3 Billion made up of non-competitive bids.
The Central Bank of Kenya(CBK) had gone into the domestic money market to raise the cash needed for rollover/redemptions.
The 91 day, 182 day and 364 day T Bills have a market-weighted average interest rate of 6.113%, 6.440% and 7.370% respectively.
The next T-Bills Auction, worth KSh 24 Billion, opens on 30th July 2020 with results to be announced on 31st July, 2020.
The actual amount to be realised from the auction will be subject to National Treasury’s immediate liquidity requirements for the week.
Bids must be submitted to CBK through its tender box or electronically by Thursday 30th July, 2020. Payments above KSh 1 million must be made electronically while those below this amount amount by either cash, bankers’ cheque or electronically.
All these payments must reach CBK not later than 3rd August, 2020.
Non-competitive bids are subject to a maximum of KSh 20 Million per investor account per tenor and are issued at the weighted average of accepted bids.
This does not, however, apply to state corporations, public universities and semi-autonomous government agencies.