New CBI Announcement 05/29/2016

[yota691]

News and announcements

 

• The Ministry of Finance approved on 2016 / 5 /25 conduct a public auction auction ( Y20 ) for the sale of the treasury for their remittances (364 ) on  
  5/29/2016

 

[yota691]

Two banks and the Department of the care of minors Daka remittances treasury $ 400 billion dinars

 

Monday, May 30, 2016 14:25

 

 

 

 

 

 

Alsumaria News / Baghdad  Iraqi Central Bank announced on Monday that the two banks and the Department of the care of minors remittances Treasury bought $ 400 billion dinars, noting that the number of participants in the auction amounted to three subscribers.   The central bank said in a statement Alsumaria News received a copy of it, that "banks and circle the care of minors bought through public auction conducted by the central bank on behalf of the Ministry of Finance remittances treasury $ 400 billion dinars," noting that "the duration of the transfer of 364 days."       Central and added that "the two banks and the care of minors full transfer and the highest price they bought," pointing out that "at the auction amounted to three subscribers number of participants."   The CBI said the bank independent Iraqi under the law in the (March 6, 2004), which is responsible for maintaining price stability and the implementation of monetary policy and the management of foreign reserves and the issuance of currency management, and regulate the banking sector to promote a competitive and stable financial system.

[sandfly]

THANKS

[yota691]

05/31/2016 (00:01 pm)   -   the number of readings: 162   -   thenumber (3659)

 

 

Two banks and the Department of the care of minors buying treasury remittances worth 400 billion dinars

 Baghdad / Ibrahim Ibrahim 
 

Central Bank of Iraq, announced on Monday, the two banks and the Department of the care of minors bought remittances treasury $ 400 billion dinars, noting that the number of participants in the auction amounted to three participants, while noting economists that the process continued selling national bonds will provide cash flow to the government on an ongoing basis and the shrinking ratio the deficit in the federal budget. " 
the central bank said in a statement the " long "received a copy of it, that" banks and circle the care of minors purchased through public auction conducted by the central bank on behalf of the Ministry of Finance remittances treasury $ 400 billion dinars , "noting that" the duration of the assignment amounting to 364 days. " 
Central and added that" the two banks and the care of minors bought the entire assignment and the highest price , "adding that" in the auction the number of participants reached three participants. " 
for his part, economist Mustafa Mohamed Habib, in an interview for the " long ", said " the financial crisis taking place in the government , which paid for the issuance of national bonds to repay debt and provide liquidity they need to walk everyday transactions." 
He added that " the sale of national bonds will contribute effectively in providing liquidity in excess of investment opportunities for the citizens and the mobilization of local segments of the market which is considered semi - currently suspended . " 
said Habib said" the government motivate businesses and citizens toward the purchase of national bonds in excess of the Optional and safe savings process as well as the calculation of a good utility and content for a specific period the price. " 
He said the " government will be able to provide internal cash flow without relying on foreign loans that require activated the application of unfair conditions against some sectors of the economy. " 
He stressed the beloved" The budget deficit, which amounted to approximately 25 trillion dinars Shell local market movement requires finding outlets to provide liquidity to the government by borrowing from the central bank to activate the industrial, agricultural and tourism sectors. " 
The the care of minors Department in the Ministry of Labour and social Affairs announced on Wednesday (01.07.2016), for realizing the benefits of cash "rewarding" to slice the minors in an auction of treasury transfers the Iraqi Central Bank and Ministry of Finance exceeded one billion dinars in 2014, while shown that these profits are added periodically to the minors deposited in the department 's account. 
according to the public debt Act , which authorized the Ministry of Finance remittances Treasury guaranteed issuance by the Government of Iraq, the Iraqi Central Bank as agent financially to Ministry of Finance auctions remittances treasury management of the Government of Iraq on behalf of the Ministry of Finance , which will , according to selectors the annual budget by issuing treasury remittances for the purposes of government funding law.

[ronscarpa]

Announcement Number (Y20) 25-May-2016

Auction number Y20 of government debt securities was a uniform price auction for IQD 400,000,000,000.000 par value concluded on the 25-5-2016.

Total public biddng is IQD 165,000,000,000.000 Valid competitive bids totaled IQD 164,500,000,000.000 and valid non competitive bids totaled IQD 500,000,000.000 and the cut off yield (the highest yield of a successful bidder) determined by auction was 4.00%.

DETAILS (AMOUNTS IN IRAQI DINARS)	NOTES
Securities Offered	Discount
Total Offering	400,000,000,000.000
Total Public Bidding	165,000,000,000.000
Pricing	Multiple
Term of Security(days)	364
Settlement Date	26-5-2016
Maturity Date	25-5-2017
Competitive Bidders	3
Winning Bidders	3
Total Non-Competitive Bids Awarded	500,000,000.000
Total Valid Competitive Bids	164,500,000,000.000
Total competitive Bids Awarded	100,000,000,000.000
Range of Yields  of Valid Competitive Bids	[4.00%-5.00%]
Cut off Yield	4.00
Average Competitive Yield	4.00
Bids Received as % of Amount Offered	41.25

 

I'm not sure if this was posted, so I thought it would be wise to publish it....Be Blessed, RON  

[Jac]

Thank you, Ron, be hopeful and blessed!

Jac

[dweave69]

Those are a lot of zeros.