SBV withdraws over 80tr dong via T-bills channel in two months

04-May-2012 Intellasia | TTVN | 11:37 AM Print This Post

Till the end of April 2012, the yield of treasury bills for tenors of 28-days, 91-days and 182-days slipped to 6.2 percent per annum (p.a.), 9.4 percent and 10.34 percent p.a. respectively.

Since launching the sale of T-bills via “outright” operation on March 15, so far, the State Bank of Vietnam (SBV) has withdrawn over 80 trillion dong.

From March 15 so far, the central bank has sold 33.495 trillion dong worth of 28-day tenor T-bills, nearly 25.5 trillion dong of 91-day T-bills and over 21.8 trillion dong worth of 182-day tenor T-bills. In April alone, the central bank withdrew over 51.4 trillion dong via the T-bills channel.

The yield of T-bills also declined sharply in April. Initially, the yields for tenors of 28-days, 91-days and 182-days were at 11.5 percent p.a., 12 percent and 12.5 percent p.a.

Till the end of April, the yields have slipped to 6.2 percent p.a., 9.4 percent and 10.34 percent respectively.

Although the yields have slipped to low levels, commercial banks still kept buying in T-bills in the context of liquidity in surplus and unimproved lending activities.

In April, the central bank posted a net withdrawal of over 42 trillion dong. The capital pumping via open market operations (OMO) was very low, at an average of about 300-500 billion dong per session.

As of April 25, the interbank average interest rate for 1-week term dropped to 4.5 percent p.a., overnight term at 7.22 percent p.a. and one month term at 7.54 percent p.a., the central bank’s data showed.


Category: Finance

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