New CBI announcement 12/13/2015

[yota691]

News & Announcements

 

 

• The central bank acknowledged on 2015/12/8 conduct a public auction auction (C151) for the sale of the bank for their remittances (91) days   
  12.13.2015

 

Announcement No. (C151)

The auction remittances No. C151 is a uniform price auction a nominal value of 200,000,000,000.000 dinars and concluded the auction on 08/12/2015 The bids submitted amounted 281,500,000,000.000 Danar.usar cutting the highest discount rate of a successful tender for the 4.40%

DETAILS (AMOUNT IN IRAQI DINARS) NOTES Bonds opponent Amount Asdarih 200,000,000,000.000 The amount of bids submitted 281,500,000,000.000 Pricing unified Omar Sindh days 91 Settlement date 09/12/2015 due date 03/09/2016 The number of bidders competitive bidding 7 The number of successful bidders for tenders 6 The total competitive bids accepted 281,500,000,000.000 Total competitive bidding allocated 200.010, 000,000.000 Over the returns (discount rates) competitive bidding [4.00% -5.50%] Price cutting% 4.40 The average yield competitive 4.29 The amount of bids submitted as a percentage of the amount offered 140.75

Auction Details

[eburt]

What's the deal with auctions and why is this so important when it comes to CBI dinar currency for RV. As I see it why would they RV if they keep making lots of money from auctions

[calkid11]

Thank you Yota

[ronscarpa]

See Post:

 

http://dinarvets.com/forums/index.php?/topic/212777-cbi-securities-auctions-announcement-number-c151-8-december-2015/

[djgabrielie1]

See Post:

 

http://dinarvets.com/forums/index.php?/topic/212777-cbi-securities-auctions-announcement-number-c151-8-december-2015/

That didn't answer the question Ron.

 

What's the deal with auctions and why is this so important when it comes to CBI dinar currency for RV. As I see it why would they RV if they keep making lots of money from auctions

In my opinion they would not need to RV their currency and they haven't. They just keep operating on the USD. It also kind of mirrors what the VND has been doing all these years. Talk about a worthless currency. wow

[sandfly]

THANKS

[yota691]

Lets add this again, these auctions are part of the CBI 5 trillion lending program...

Auction Central remittances

 

 

         

3/11/2015 0:00 

BAGHDAD Mustafa al-Hashimi 
 regulated by the central bank on the tenth of this month, a live auction for the sale of Hawwalath of the 91-day at $ 200 billion Danar.ozkr source in the bank »Sabah» that this auction is the twenty-third of its kind and holds a number c149 within the central plan to issue Hawwalath this year which includes the establishment of 26 the auction of a Hawwalath with term 91 Aoma.oadav that the maturity date will be the tenth of the month of February next year where a term expiring Alajl.erb source expressed hope that the full amount of Asdarih sale of beneficiary entities that will participate in the auction. 
In the same context The central bank announced the results of an auction sale Hawwalath of the 91-day and which systems in the twenty-seventh of last month. 
A statement of the bank that during the auction sale of the full amount of Asdarih (200 billion dinars) to 6 out of seven beneficiaries participated in the auction, adding that the sale Asdarih was at a multi-utility, and the highest discount rate stood at 4.20 percent. 
He said the total number of participants in the auction totaled seven points won 6 of which are represented by five banks and the Department of care of minors amounts provided. 
According to a private «morning» the statistical total amount of remittances sold more than 3 trillion dinars of the total of the planned five trillion dinars for this year, noting that the central has not announced the results of auctions numbered c138 and c146.

Read more: http://dinarvets.com/forums/index.php?/topic/206716-central-bank-puts-the-finishing-touches-to-lend-to-five-trillion-dinars-mechanisms/page-4#ixzz3uIIfC979

[yota691]

Add this...

Seminar on the central bank auction and determine the foreign exchange rate

 

      Friday   06   November   2015 | 08:20

 

 

 

 

 

The issue of monetary reserves, which are still under discussion

 

 

Life

Governor of the Central Bank of Iraq Ali Mohsen Keywords announced that the nature of the Iraqi economy Reclining on oil resources, make the relationship between fiscal and monetary policy, including an interactive relationship necessitated by the nature of the revenue and expenditure of the pricing of the dollar. He pointed out that «Central» exercised important roles in this process, including the financing of the current expenditure of the public budget, with the dollar buying from the Ministry of Finance to cover the needs of the Iraqi dinar, in accordance with the allocations required in the general budget. And contributes to «Central» also in finance imports of the commercial sector, while the dollar selling process means the withdrawal of the dinar from the local market, which will help the bank to curb money supply and reduce the resort to printing more currency. He said at a seminar in «Institute of the progress of development policies», attended by experts and interested in the money sector of the economy, that «such activity is not essential for central banks in the world, it is very rare to have the central sales window, but because of the nature of the Iraqi economy, Central took over this task, while the task required to intervene when there is a disruption in the exchange rate, as in the European Union ». He pointed to the issue of monetary reserves, which are still under discussion, and stressed that the reserve is the difference between what the central buys and sells. And over, it goes to the international reserves, and that the function of the reserve financing imports and other transfers and coverage, and the foreign currency reserve is the difference between the dollar sales of the Ministry of Finance to the Central Bank and the central bank sales to the private sector. And confirmed the existence of the adequacy of the reserve criteria, such as coverage of imports for a period of 6 months and cover the local currency and foreign debt. He noted Keywords to the presence of important rules govern the process of selling the dollar to cover imports of personal and transfers of the private sector, including the Central Bank Law Article 28 and guidance of the International Monetary Fund economic system according to the Constitution, and anti-money laundering law. He pointed out the real solutions such as the purchase or sale simple unconditional, cash and futures, and to require banks to apply the principle «know your customer» and the application of anti-money laundering and terrorism financing law. He pointed to the devaluation of the Iraqi dinar by raising the dollar exchange rate of 10 percent to 1300 dinars to the dollar Options , what provides the general budget of 5 trillion dinars ($ 4.2 billion), or raise the dollar exchange rate of 20 percent to 1400 dinars, providing budget 9 trillion dinars. He said that the reduction option easy, but it does not help in the reform of the structural problems, and the devaluation Local useful for exporting countries to activate the export. He added that «Iraq importing country, and to reduce the currency hurt the purchasing power of citizens with limited income. The «can taxes play an important role in the finance, justice and balance without compromising the slide limited income, as can achieve economic goals and social and financial». The head of the «Institute of the progress of development policies» and former Minister of Planning Mahdi Al-Hafiz, pointed out that the national need not require the continuation of the so-called dollar auction, organized by the «Central», but must be handled freely and without restrictions. And it calls for counter-opinion to uphold the auctions and to provide the necessary facilities for the conduct of this operation, and we must stop at the experiences of neighboring countries and operations. He asked Hafiz for the exchange rate, which raises problematic several, he said, «How can that half of the process required to determine the exchange rate, and is related to the economic and financial situation of the state»? Turning economist Ahmed Alobreha to points concerning the path expected of the Iraqi economy, pointing to the difficulty of reducing the demand sector Special for foreign currency in the current scope of the exchange rate and income levels. He added that the national economy is a lack of diversified production base that can supplement the national market alternatives to imports of goods and services, adds restrictions and weakens the effectiveness of efforts to address the problem of policies.He pointed out that «the private sector was unable to contribute to the display of foreign currency, as well as government non-oil sector, and foreign investment policy did not succeed in adding a tributary albeit in a limited form. Iraq has faced interest on the loans in the international market can not afford the prices, and as a result of crude oil remains the only source of foreign currency, and must be serious and responsible move towards real economic development to pay a danger for Iraq ».

Read more: http://dinarvets.com/forums/index.php?/topic/210892-seminar-on-the-central-bank-auction-and-determine-the-foreign-exchange-rate/#ixzz3uIMPuNgH

SECTION 6—MONETARY FUNCTIONS Article 28 Open market operations and standing facilities The CBI may, for the achievement of its objectives, (i) perform open market operations with commercial banks that are licensed or hold permits issued by the CBI under the Banking Law or, at the discretion of the CBI and subject to regulations set forth by the CBI, other appropriately licensed financial intermediaries; and (ii) provide standing facilities to commercial banks that are licensed or hold permits issued by the CBI under the Banking Law and subject to regulations set forth by the CBI by: a. purchasing or selling outright (spot and forward), or under repurchase agreements or other similar financial instruments, debt securities issued by the CBI or by the Government, bearing market yields provided that purchases of debt securities issued by the Government through open market operations shall only be made in the secondary market. b. purchasing or selling outright (spot and forward) foreign exchange; c. discounting bills of exchange or promissory notes; d. making loans fully secured by pledges of collateral; and e. accepting interest-bearing deposits from banks.

Read more: http://dinarvets.com/forums/index.php?/topic/210892-seminar-on-the-central-bank-auction-and-determine-the-foreign-exchange-rate/#ixzz3uINLKoIH

And add this...and with the looks of it we should see one more of these auctions to complete the Auctions set forth by the CBI for the this year....

151.75 billion dinars auction results remittances

 

 

         

11/28/2015 0:00 

BAGHDAD Mustafa al-Hashimi 
regulated by the Central Bank on the eighth of next month, a live auction for the sale of Hawwalath for 91 days at $ 200 billion dinars. A source »Sabah» that the auction scheduled for carry figure c151 which the auction twenty-fifth of its kind within the central plan to issue Hawwalath this year. 
 He noted that the last auction of Central remittances will be in the twenty-second of the month this December, hoping to be Asdarih full amount of the sale to those who will participate in it. In the same context, the Central announced the results of an auction Hawwalath which was held in the twenty-fourth of this month, indicating that it was selling remittances at $ 151 billion and 750 million dinars out of Asdarih amount (200 billion dinars) and the price of a multi-utility and the highest discount rate (4.50 percent).
He noted The total number of 6 participants representing five banks and the Department of care of minors, where they won the amounts they gave. 

Read more: http://dinarvets.com/forums/index.php?/topic/211990-cbi-securities-auctions-announcement-number-c150-24-november-2015/#ixzz3uINcPNRe

Point this out...the central plan to issue Hawwalath this year which includes the establishment of 26 the auction 

 

Hope this makes sense and GM all of DV....

[Jaygo]

Nope... Still confused

["Fred"]

Nope... Still confused

Just wait for Adams text,it's less confusing