Treasury Bills Application Procedure

 

Applications to purchase treasury bills will be accepted from ten (10) working days prior to each auction date. The deadline for submission of tenders to the Reserves and Domestic Market Management Department of the Central Bank is 12:00 noon on the auction date.

Documents must be  submitted in an envelope labeled "Tender for Treasury Bills" and addressed  to:

   The Manager
   Reserves and Domestic Market Management Department
   Central Bank of Trinidad & Tobago,
   St. Vincent  Street, Port of Spain.

Payment procedure
Payments for bills must be made by certified cheque payable to the Central Bank of Trinidad and Tobago and must accompany each tender.

Cheque payments must be submitted no later than three (3) working days prior to the auction date, to facilitate clearance and settlement.

Competitive tenders can be submitted for any amount up to the issue size and must state the price the bidder is willing to pay for each $1000 of the face value being applied for. Competitive bids may be rejected if the face value of the entire issue is allocated at higher bid prices or if the price quoted is lower than the cut-off price set by the Central Bank. For competitive tenders, payments must be in the amount of the total cost of the bills. No allocation will be made to a bid that is rejected.

Non-competitive tenders for values up to $100,000 can also be submitted. For these bids, the bidder agrees to accept the weighted average price of the successful bids determined in the competitive auction. For non-competitive tenders, payments will be equivalent to the face value being applied for.

Payments are accepted via the Central Bank tellers at the following times:

Monday to Thursday: 8:00 a.m.–12:00 p.m.
Friday: 8:00 a.m. – 3:00 p.m.

 

Download the application form here.