T-bills open up to everyone
The government is restoring the opportunity for small private investors to take part in an interest-bearing bond auction, ending the scenarios for the issuance of a public bond.
Through Wednesday's auction of interest-bearing 52-week treasury bills, amounting to 625 million euros, the state is providing individuals with the chance to purchase these securities through public registration, with a maximum nominal value of €15,000 per person.
As usual, the auction will be competitively bid by the principal negotiators, with their rules of procedure allowing them to submit non-competitive bids on the day of the auction. Non-competitive bids will be satisfied at the price of the last bid accepted at the auction, up to a total of 30% of the auctioned amount - i.e. up to €187.5 million.
However, in contrast to what was done before, no additional non-competitive bids...