T-Bill Auctions

[Munsch]

I think the last T-Bill auction was almost 2 months ago. So is this a good thing or bad? What is the real purpouse for these T-Bills anyway if they keep cancelling them?

[Chris S.]

Well they did a currency auction on the 20th, yesterday.

looks like the last CBI bill was on 5/25/10, they cancelled the one on June 8th

they have had 3 schedualed after the one on june 8th, looks like none of those has happened.

From 08 to 09 they decreased the T bill amount by 50%, so I'm assuming their doing a large decrease this year also...wonder why...

Edited July 21, 2010 by Chris S.

[Blogo69]

Well they did a currency auction on the 20th, yesterday.

looks like the last CBI bill was on 5/25/10, they cancelled the one on June 8th

they have had 3 schedualed after the one on june 8th, looks like none of those has happened.

From 08 to 09 they decreased the T bill amount by 50%, so I'm assuming their doing a large decrease this year also...wonder why...

The purpose of the T-Bill Auctions (CBI T-Bills and the MOF T-Bills) is to sell T-Bills to raise Dinars to operate the CBI and the MOF. It looks like the Low participation of the Banks prevented the Auctions from taking place.. That is why Iraq was trying to borrow from the IMF, World Bank, Sovereign Funds...etc..etc is that they were running out of funds to operate the CBI and Iraqi Government.. My opinion is as the supply of Investable funds declined, the Banks chose not to tie their money up, knowing that am RV was coming soon...JMHO! This is a good sign, at least to me, that an RV is coming!!!

Edited July 21, 2010 by Blogo69

[txgizmo]

Great ? and a great answer.

+1 for both