Plan of financing the State budget borrowing requirements in the fourth quarter of 2020
30.09.2020
General assumptions:
- in the fourth quarter of 2020 T-bond auctions are planned according to the announced yearly issuance calendar,
- offer of T-bonds on the domestic market will depend on the budget and market situation as well as the consultations with investors,
- possible auctions of Treasury bills will be held within the confines of the State budget liquidity management,
- foreign financing will be determined by the situation on the international financial market and the domestic market as well as by budget conditions,
- the announced plan may be modified subject to the market situation.
- Offer of T-bonds on the domestic market:
- sale auctions:
possible one auction with supply up to PLN 5.0 bn, the structure of the sold T-bonds will be subject to the market situation,
- switch auctions:
between four and five auctions - subject to the budget and market situation – securities offered to repurchase would be T-bonds maturing in 2021.
- Offer of T-bills
Detailed information on the offer of T-bills will be presented in the monthly issuance plans.
- Foreign financing:
- possible issuance of bonds on the international markets,
- loans from International Financial Institutions,
- possible loans from EU within instrument for temporary support to mitigate unemployment risks in an emergency (SURE),
- possible private placement issuance.
Materials
Plan of financing the State budget borrowing requirements in the fourth quarter of 2020.ts_supply_q4_2020.pdf 0.53MB