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New 5-week Treasury Note



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THE TREASURER 7/

PRESS RELEASE JOHN KERIN MP

No. 114

STATEMENT BY THE TREASURER, JOHN KERIN MP

NEW 5-WEEK TREASURY NOTE

I am today announcing the introduction of a new 5-week Treasury Note to supplement existing Note maturities.

Treasury Notes are short-term discounted securities issued by the Commonwealth through regular (usually weekly) tenders to meet the within-year budget funding requirement. The main holders of Treasury Notes are the banks and authorised money

market dealers, for whom such Notes serve primarily as a liquidity management tool.

Until now, Treasury Notes have been issued in two maturities only, 13 and 26 weeks.

A 5-week Note will enhance the flexibility of cash balance management both because of its shorter duration and because it will mature in a different part of the monthly cash cycle from when it is issued.

The new 5-week Note will be subject to the regular tender arrangements applicable to the existing Note maturities. The first issue of the 5-week Note is likely within the next few weeks.

CANBERRA 6 November 1991

Contact Officer: Peter McCray (06) 2633837