MOF Auctions

The Ministry of Finance is authorized under the "Public Debt Law" to issue obligations guaranteed by the government of Iraq. The Central Bank of Iraq, as fiscal agent of the Ministry of Finance is authorized to conduct auctions for government debt securities on behalf of the Ministry of Finance. The Ministry of Finance issues government debt securities to finance the government of Iraq, subject to the limits of the "Annual Budget Law".  

To achieve this financing objective, the Ministry of Finance determined a system and mechanism for government debt securities auctions that will be held periodically, with the results announced at 11 am in the morning after the close of the auction at 10 am.

Announcement Number (HY60) 07-Jul-2014

Auction number HY60 of government debt securities was a uniform price auction for IQD 500,000,000,000 par value of bills which  concluded on 07-07-2014.

Total public  IQD 447,000,000,000 Valid competitive bids totaled IQD 447,000,000,000 and valid non competitive bids totaled IQD 0.000 and The cut off yield (the highest yield of a successful bidder) determined by auction was 8.40%.

 

Details (amounts in Iraqi Dinars) Notes
Securities Offered Discount
Total Offering 500,000,000,000
Total Public Bidding 447,000,000,000
Pricing Multiple
Term of Security (days) 182
Settlement Date 08-07-2014
Maturity Date 06-01-2015
Competitive Bidders 3
Winning Bidders 3
Total Non-Competitive Bids Awarded 0.000
Total Valid Competitive Bids 447,000,000,000
Total competitive Bids Awarded 447,000,000,000
Range of Yields  of Valid Competitive Bids [5.00%-8.40%]
Cut off Yield 8.40
Average Competitive Yield 6.50
Bids Received as % of Amount Offered 89.40

 

Details of the auctions

Scheme treasury transfers for the year 2014/ for(182)days and remittances for(364)days


Announcement Number (Y11) 09-Jun-2014

Auction number Y11 of government debt securities was a uniform price auction for IQD 500'000'000'000 par value concluded on the 09-06-2014.

Total public biddng is IQD 631'500'000'000. Valid competitive bids totaled IQD 631'000'000'000 and valid non competitive bids totaled IQD 500'000,000. and the cut off yield (the highest yield of a successful bidder) determined by auction was 7.50%.

Details (amounts in Iraqi Dinars) Notes
Securities Offered Discount
Total Offering 500'000'000'000
Total Public Bidding 631'500'000'000
Pricing Uniform
Term of Security(days) 364
Settlement Date 10-06-2014
Maturity Date 09-06-2015
Competitive Bidders 6
Winning Bidders 5
Total Non-Competitive Bids Awarded 500'000,000
Total Valid Competitive Bids 631'000'000'000
Total competitive Bids Awarded 499'500'000'000
Range of Yields  of Valid Competitive Bids [5.00%-9.00%]
Cut off Yield 7.50
Average Competitive Yield 6.00

Bids Received as % of Amount Offered

126.30

Details of the auctions

 

Announcement Number (125) 28-DEC-2009

Auction number 125 of government debt securities was a uniform price auction for IQD 200'000'000'000 par value concluded on the 28-12-2009.

Total public biddng is IQD 201'000'000'000. Valid competitive bids totaled IQD 200'000'000'000 and valid non competitive bids totaled IQD 1'000'000'000. The cut off yield (the highest yield of a successful bidder) determined by auction was 5.50%.

Details (amounts in Iraqi Dinars) Notes
Securities Offered Discount
Total Offering 200'000'000'000
Total Public Bidding 201'000'000'000
Pricing Uniform
Term of Security(days) 91
Settlement Date 29-12-2009
Maturity Date 30-03-2010
Competitive Bidders 2
Winning Bidders 2
Total Non-Competitive Bids Awarded 1'000'000'000
Total Valid Competitive Bids 200'000'000'000
Total competitive Bids Awarded 199'010'000'000
Range of Yields  of Valid Competitive Bids [5.00%-5.50%]
Cut off Yield 5.50
Bids Received as % of Amount Offered 100.5

Details of the auctions

The schedule below for 91-day T-bill auctions is preliminary and subject to change.

Note: all dates above are in DD-MM-YYYY