Auction calendars and plan for government bonds and Treasury notes

The following will hereafter apply to government borrowing:

• Auction calendars for the next calendar year will be announced in December each year.
• It is the intention to hold five auctions of government bonds and 16 auctions of Treasury notes each year.
• Auctions of Treasury notes will generally be scheduled so that settlement takes place on the first Wednesday of each month, as well as on all IMM dates.
• Treasury notes will mature on IMM dates, as well as in mid-May and mid-November. This means that some notes will be partially rolled over on IMM dates.
• Treasury notes will be issued primarily in the 11-12 month segment and the 3-4 month segment.

It is the intention to issue new Treasury notes with a 12-month maturity on all IMM dates. As previously, the volume of new notes will be increased at subsequent auctions. In addition, the volume of notes that mature in March or September will be increased considerably when the residual maturity is between two and four months. Treasury notes that mature in June and December will as a rule not be increased more than once.

Treasury notes that mature in May and November will be issued with original maturities of less than five months, and will be increased once.

 The following schedule has been established for auctions of government securities in 2001:

Treasury notes

Auctions of government bonds and Treasury notes may be cancelled or supplemented with ad hoc issues.

2 Jan 2001 08:49