Government to Issue 4 Trillion Won in Treasury Bonds in July... Utilizing Existing Issuances for Redemption
[Asia Economy Reporter Kwangho Lee] The Ministry of Economy and Finance announced on the 26th that it plans to issue a total of 4 trillion won in treasury bills (63-day maturity) in four installments during July to support smooth fiscal execution.
Treasury bills are securities issued in the financial market (with maturities of 63 days or 28 days) to cover temporary shortages in the treasury fund. They are auctioned competitively to 20 Monetary Stabilization Bonds bidding institutions, 17 specialized treasury bond dealers, 4 reserve specialized treasury bond dealers, and 3 treasury fund management institutions.
The funds raised through the issuance of treasury bills this month will be fully used to repay the existing treasury bills.
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The outstanding balance of treasury bills at the end of July is expected to be 11 trillion won, a decrease of 3.5 trillion won compared to the previous month.
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