Aug 7 (Reuters) - The Reserve Bank of India has issued bonds and
treasury bills under the Market Stabilisation Scheme (MSS)
totalling 345.00 billion rupees since the current financial year
began on April 2008 .
The government has issued 91-day treasury bills worth 130.00
billion rupees,
182-days treasury bill worth 40.00 billion rupees, 364-day
treasury bills worth 65.00 billion and bonds worth 110.00 billion
rupees.
Under the MSS scheme, the central bank issues bonds to soak
up the additional cash in the banking system generated by its own
intervention.
Though it sells treasury bills under this scheme weekly, it
resumed selling dated securities from March 2006 after a gap of
nearly 18 months.
According to the central bank's website, the total
outstanding balance under the MSS stood at 1,713.27billion rupees
as on Jul 25 2008,
below a self-imposed limit of 2.48 trillion rupees.
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Sale Bond Target sale Cut-off Wtd. Avg.
date amount price/yield price/yield
(rupees/%) (rupees/%)
-------------------------------------------------------------
Aug 06 182-Day T-bill 10 95.57/9.2962 95.59
Jul 30 364-Day T-bill 10 91.30/9.5552 91.31
Jul 23 91-Day T-bill 25 97.79/9.0646 97.80
Jul 23 182-Day T-bill 10 95.56/9.3181 95.58
Jul 16 364-Day T-bill 10 91.39/9.4470 91.42
Jul 16 91-Day T-bill 25 97.78/9.1066 97.80
Jul 09 182-Day T-bill 10 95.55/9.3401 95.58
May 14 91-Day T-bill 5 98.19/7.3937 98.20
May 14 182-Day T-bill 10 96.36/7.5758 96.38
May 07 364-Day T-bill 25 93.00/7.5476 93.05
Apr 30 6.57% 2011 30 96.76/7.8712 96.82
Apr 23 91-Day T-bill 20 98.18/7.4353 98.19
Apr 23 364-Day T-bill 10 92.88/7.6869 92.92
Apr 16 91-Day T-bill 25 98.18/7.4353 98.20
Apr 16 6.57% 2011 30 96.20/8.0827 96.26
Apr 10 6.57% 2011 50 96.52/7.9452 96.76
Apr 09 91-Day T-bill 30 98.23/7.2274 98.27
Apr 09 364-Day T-bill 10 93.15/7.3739 93.18
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Outstanding securities issued (in billion rupees) 345.00
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((Bangalore Rate Reporting Unit, + 91 80 4135 6505, fax +91 80
4135 6307, [email protected]))
Keywords: MARKETS INDIA MSS)
Keywords: MARKETS INDIA MSS