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Treasury Bills


The issuing of treasury bills is governed by the Treasury Bill Act (1960). The Reserves and Domestic Market Management Department is responsible for the issuing of Treasury Bills by way of an auction. The Department also purchases and sells Treasury Bills.
 

Contact

The Reserves and Domestic Market Management Department can be contacted at (868) 621-2288/235-2288, extensions 2034, 2079, 2024, 2038, 2040.


Annual Schedule

The schedule below indicates the treasury bills issued or scheduled for issue, and their respective maturity dates.

Owners of matured bills have the option to redeem the matured bills, or exchange them for the new bill issued on the maturity date. Please note that the auction process closes two (2) days prior to the date of each issue.

You can also download the 2021 schedule.


Application Forms

There are  2 forms to apply/bid for a Treasury Bill.
The first is  a Non -Competitive  Application.  This is  for use by investors  applying for purchase at the average price determined in the auction  process. This facility is designed for small investors who are bidding $100,000.00 or less.

The second is a Competitive Application which is designed for larger investors.

All application forms are to be submitted in person to the Central Bank and must be accompanied by one valid form of picture ID (Passport, National ID, Drivers' Permit) upon submission. See the Application Procedures page for more detail.


Treasury Bill 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.

 

Treasury Bills Q&A

Historical Treasury Bills

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