Government raises €500m in T-bill auction
THE National Treasury Management Agency (NTMA) has raised €500m in the latest of its regular auction of T-bills.
Treasury or “T” bills are a type of short term debt, in today’s auction the Government borrowed €500m for three months at an interest rate that works out equal to 0.18pc per year.
Total bids received at the “bill” auction amounted to €1.671bn or 3.3 times the amount borrowed.
The interest rate is less than the State was charged at similar auctions in June and July, but higher than it paid in May.
In the last auction in July, the yield was 0.2pc