They mature in one year and the interest rate is 0.01 per cent. The proceeds will be used to refinance treasury bills falling due.
In advance of the maturity of treasury bills worth HRK 1.7 billion, the Ministry offered HRK 1.3 billion worth of treasury bills for a subscription. Financial institutions submitted bids worth slightly over HRK 2 billion and the Ministry accepted HRK 1.7 billion.
The low-interest rate is the result of a large surplus of liquidity in the domestic financial market, exceeding HRK 77 billion.
The balance of subscribed kuna treasury bills has now decreased by HRK 1 billion to HRK 13.68 billion.
The next auction is set for 8 February.
