T-bills only in Romania

The Public Finance Ministry will borrow money by means of government securities issues worth 4.15bn RON (1.15bn euros) in 2006. The issues will be released on the domestic market exclusively. The issue structure will include treasury certificates falling due in six and twelve months, and benchmark-type government bonds for three, five and ten years. The value of the treasury certificates will be 900 million RON, that is 450 million RON for every type of maturity. They will be issued in the third week of every month, with the auctions taking place on the respective Mondays and the clearing done on Wednesdays. The benchmark type of government bonds volume will amount to 3.25bn RON. The issues will be released every month as of the second quarter of the year, with the auctions scheduled for Thursdays and the clearing for the following Mondays. The three-year bond issues will amount to 1.25bn RON, while those maturing in five and ten years will amount to 1bn RON, for each of the two maturities. The Finance Ministry will publish an announcement every quarter that will provide the approximate data about the loans for each month of the current quarter, with the monthly issue prospectus set to announce the actual volume of these loans. It will not launch treasury certificate issues for sale through the Treasury in 2006. ZF