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  Home Page  > Monetary Policy  > Auction for sale of makam 

25 february 2010
Ref: 10-08m-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 3 March 2010
Last date for submission of bids for makam purchase 2 March 2010
Latest time for submission of bids for makam purchase 12:30
Maximum yield Determined, but not published1
   
Series number 311
Stock exchange series number 8110314
Maturity date 2 march 2011
Days to maturity 364
Amount offered in auction1 (NIS million, face value) 10,000
Amount offered at average weighted yield2 3
(NIS million, face value)
   
Series number 610
Stock exchange series number 8100612
Maturity date 2 June 2010
Days to maturity 91
Amount offered in auction1 (NIS million, face value) 2,000
Amount offered at average weighted yield2 3
(NIS million, face value)
 
1 Yield 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.
2 The 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.
3 The 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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