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Azeri Nat'l bank, Finance Ministry adopt a new schedule of placement of state securities

Business Materials 14 August 2006 13:29 (UTC +04:00)

The Coordinating Council on resolution of state securities market updated a schedule of placement of state securities of the Finances Ministry. The Ministry told Trend that at the resolution of the Council the placement of T-bills will be hence held on Thursdays, whereas in accordance with the previous schedule, the auctions were held every Monday.

The key reason for shifting the schedule is that on Mondays cannot settle with manat remnants in their correspondent accounts. From the aspect of liquidity the placement of state securities will be held on the second day of every week, which will enable to cover a wider circle of participants and cover the entire circle of issue. Since the beginning of the year, a total of 51.2m manats has been placed amid the issue of 95m manats. In 2006 the Ministry of Finances plans to emit T-bills in the amount of 205m manats.

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