Central Bank to hold an auction for AZN 50 million


February 3, Fineko/abc.az. An auction on Central Bank’s short-term notes will be conducted at the Baku Stock Exchange on 3 February.

ABC.AZ was informed at the BSE that the volume of notes put up for the auction is AZN 50 million, the nominal value of a note is 100 manats, and the circulation term is 84 days. The notes will be paid on 4 May.

According to the information, the total number of applications submitted by each bank should not exceed 2 (1 competitive and 1 non-competitive). Non-competitive orders may be accepted, provided that no more than 20 percent of the notes are issued. Calculations on transactions concluded as a result of the auction will be performed in the T+1 mode. The price range limit for submitted applications is not applied.

Only local banks operating on a license basis can be buyers of short-term notes of the CBA.