T-bonds issuance calendar

1. 1. 1. The issuance plan for 2021 assumes to hold two T-bond auctions per month (sale or switch auction, subject to the budget and market situation) with the exception of December when only one auction is planned.
      2. T-bond auctions are scheduled for Thursdays, except for the auctions on: January 22nd, April 23rd, May 21st, June 11th, July 9th and July 23rd (auctions on Fridays). The issuance calendar takes into account the Monetary Policy Council (MPC), ECB and Fed meetings as well as bonds redemption dates.
      3. The settlement dates for the T-bond sale auctions and the T-bond switching auctions will be set using T+2 convention.
      4. The T-bonds issuance calendar for 2021, taking into account the above assumptions, is as follows:

 

	Day of the month
	T-bonds issuance calendar
	1st auction	2nd auction
I	7 Thu	22 Fri
II	4 Thu	18 Thu
III	4 Thu	25 Thu
IV	8 Thu	23 Fri
V	6 Thu	21 Fri
VI	11 Fri	24 Thu
VII	9 Fri	23 Fri
VIII	5 Thu	19 Thu
IX	2 Thu	16 Thu
X	7 Thu	21 Thu
XI	4 Thu	25 Thu
XII	9 Thu

 

1. 1. 5. Modifications to the presented calendar, in particular cancellation of auctions, are possible subject to market situation. Detailed information will be presented in the quarterly and monthly issuance plans.

 

II. T-bills issuance calendar

1. The issuance of the T-bills will be held depending on the budget and market situation.
2. The T-bill auctions will be held irregularly, depending on the needs (they can be held on any working day of the week).
3. The settlement dates for the T-bill auctions will be set using T+2 convention.
4. Detailed information on the T-bill auctions will be presented in the quarterly and monthly issuance plans.