BOI - Auction for sale of makam


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Home Page > Monetary Policy > Auction for sale of makam

29 July 2010

Ref: 10-30M-02-11-H

Auction for sale of makam

Further to our ref: 03-4-02-11-H' dated 25.06.08

Type of auction	Discriminatory auction for effective yield to maturity
Payment date	4 August 2010
Last date for submission of bids for makam purchase	3 August 2010
Latest time for submission of bids for makam purchase	12:30
Results will be published no earlier than 30 minutes after the closing of the auction
Maximum yield	Determined, but not published¹

Series number	811
Stock exchange series number	8110819
Maturity date	3 August 2011
Days to maturity	364
Amount offered in auction¹(NIS million, face value)	12,500
Amount offered at average weighted yield²	3
(NIS million, face value)	3

Series number	1110
Stock exchange series number	8101115
Maturity date	3 November 2010
Days to maturity	91
Amount offered in auction¹(NIS million, face value)	3,000
Amount offered at average weighted yield²	3
(NIS million, face value)	3

¹Yield bids higher than the maximum yield determined by the Bank of Israel prior to any particular auction (even if not published) will not be taken into account in the allocation of quantities and in determining the yield in the auction, and will not be acknowledged. Hence, it may be that the Bank of Israel does not sell the full quantity offered.

²The average weighted yield of successful bids in the discriminatory auction. If the total quantity of the bids for the amount offered in this category is smaller than the amount offered, the difference will be added to the total amount in the discriminatory auction. Allocation of quantities and determination of the prices in the discriminatory auction will be implemented on the basis of the total quantity including the quantity added as specified herein.

³The issuance program of makam and future makam is published once a month (at the beginning of the month).

Please note the legislation regarding the income-tax reform.

Barry Topf

Director, Market Operations Department

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