Kenya Treasury bills · auction of 19 March 2012
Kenya T-bill auction, 19 March 2012: 91-day at 17.461%, down 52 bps
At the Treasury bill auction dated 19 March 2012, the Central Bank of Kenya cleared the 91-day bill at 17.461% (down 52 basis points).
The auction was fully subscribed: bids totalled KES 4.4bn against KES 4.0bn on offer, a subscription rate of 109%. The government accepted KES 2.4bn, or 56% of what was bid.
Over the past year the 91-day rate has ranged from 8.798% to 20.799%.
What this means for KES 100,000
Worked from the published rate · information, not advice
KES 3,710 in 3 months on the 91-day bill, after tax
Put KES 100,000 into the 91-day bill at this auction and you get back KES 103,710 after 3 months: KES 3,710 in interest after 15% withholding tax (KES 4,365 before), about KES 1,237 a month.
That is KES 111 less than the same money would have earned at the previous auction.
The Central Bank’s minimum bid is KES 100,000, and the government pays the full amount at maturity; the risk is Kenya’s government not paying, and the money is locked until then.
Kwa Kiswahili
Ukiweka KES 100,000 kwenye hati ya siku 91 kwa riba ya mnada huu, utarudishiwa KES 103,710 baada ya miezi 3: riba ya KES 3,710 baada ya kodi ya zuio ya 15% (KES 4,365 kabla ya kodi), yaani takriban KES 1,237 kwa mwezi.
Hiyo ni KES 111 pungufu ya kiasi ambacho pesa hiyo hiyo ingepata kwenye mnada uliopita.
Kiwango cha chini cha Benki Kuu ni KES 100,000. Serikali hulipa yote mwishoni mwa muda; hatari ni serikali kushindwa kulipa, na pesa haipatikani hadi muda uishe.
Compare with money market funds and bank deposits, after tax →
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Subscription | Accepted | Price /100 |
|---|---|---|---|---|---|---|---|
| 91-day | 17.461% | 17.983% | KES 4.00bn | KES 4.35bn | 109% | KES 2.45bn | 95.828 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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