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Securities

Securities Auction - Friday May 30, 2014

AUCTION HELD on MAY 30, 2014

TARGET FOR TENDER 1383     – GH¢540.00 MILLION

    O/W            PSBR TARGET       – GH¢540.00 MILLION 

                        OMO TARGET         – GH¢0.00 MILLION

3-YEAR FIXED RATE BOND TARGET – GH¢400.00 MILLION

Table 1: Tender Result

Tender 1383 (Current Week)

Tender 1382 (Previous Week)  Change in Rates
  Amount Submitted Amount Accepted Variation Interest Rate Submitted Bid Range Accepted Bid Range Interest Rate Accepted Range  
91- day 531,741,863.00 529,151,363.00 2,590,500.00 24.0726% 22.1636-24.0734 22.1636-24.0726 24.0778% 23.5045-24.0778 -0.01%
182- day 39,522,653.00 39,516,114.00 6,539.00 21.2721% 20.9945-21.2725 20.9945-21.2721 21.2888% 20.9945-21.2888 -0.02%
1- year 3,059,066.00 3,059,066.00 0.00 22.5000% 20.0000-22.5000 20.0000-22.5000 22.5000% 20.0000-22.5000 0.00%
2- year 8,626,909.00 8,626,909.00 0.00 23.0000% 21.0000-23.0000 21.0000-23.0000 23.0000% 21.0000-23.0000 0.00%
3-year 626,022,488.00 372,553,400.00 253,469,088.00 24.4400% 24.2400-31.0000 24.2400-24.4400 25.4800% 23.0000-25.4800 -1.04%
Total 1,208,972,979.00 952,906,852.00 256,066,127.00  
 
 
 
   

NOTE: For the week, the total amount submitted for 91-Day, 182-Day, 1-Year and 2-Year was GH¢582.95 million, of which GH¢580.35 million was accepted. Out of the amount accepted, GH¢540.00 million will be transferred into the Government Treasury Main Cash Account (GTMCA) and the difference GH¢40.35 million will transfered into OMO Sterilisation Account .

For the 3-Year Bond issue, the amount submitted was GH¢626.02 million against a published target of GH¢400.00 million.  This gives a bid cover ratio of 1.57. An amount of GH¢372.55 million was accepted at a rate of 24.44%.

Figure 1: The Yield Curve

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