Treasury Bills

What are Treasury Bills?

Treasury bills, short-term debt instruments issued by the government, offer accessible investment opportunities in Trinidad and Tobago. With periods spanning 3 months, 6 months, or 1 year, these bills are open to both individuals and companies across the country. Easily purchase and sell Treasury bills at the Central Bank’s Reserves and Domestic Market Management department or engage in hassle-free transactions with brokers or fellow investors at mutually agreed-upon prices.

Learn more about our Treasury Bills in our FAQ. Click below!

Treasury Bills FAQs

Issuing of 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.

For inquiries or assistance, feel free to reach out to the Reserves and Domestic Market Management Department 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.

Download Annual Schedule

Applications will be accepted from ten (10) working days prior to the auction date.
Applications must provide proof of address and two (2) valid forms of I.D.
Deadline for submissions of tenders to the Reserves and Domestic Market Management Department of the Central Bank is 12:00 noon on the auction date.

Treasury Bill Application and Payment Guide

Explore our step-by-step guide on applying for Treasury Bills, understanding the application procedures, navigating the payment process, and conveniently downloading the application form. Whether you’re a small investor or handling larger investments, this comprehensive overview ensures clarity in every step of your Treasury Bill investment journey.

Non-Competitive and Competitive Options
To purchase Treasury Bills, investors can choose between two application forms: the Non-Competitive Application, suitable for small investments of $100,000.00 or less, and the Competitive Application, designed for larger investors. Investors must submit their completed application forms in person to the Central Bank, accompanied by a valid picture ID (Passport, National ID, Drivers’ Permit). For more details, refer to the Application Procedures page.

Timeline and Submission Details
Treasury Bill applications are accepted ten (10) working days before each auction date. The deadline for tender submission to the Reserves and Domestic Market Management Department of the Central Bank is 12:00 noon on the auction date.

Submissions must be sealed in an envelope labeled “Tender for Treasury Bills” and addressed to:

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

Certified Cheque and Submission Requirements

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 Friday: 8:00 a.m.–12:00 p.m.

Convenient Access to the Application Form
To streamline the process, the Treasury Bill application form can be downloaded here, providing users with a convenient way to initiate their Treasury Bill investment journey.

Download Treasury Bill Application Form

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