Kenya Treasury bills · auction of 25 June 2012
Kenya T-bill auction, 25 June 2012: 91-day at 10.675%, up 14 bps
At the Treasury bill auction dated 25 June 2012, the Central Bank of Kenya cleared the 91-day bill at 10.675% (up 14 basis points).
The auction was undersubscribed: bids totalled KES 1.7bn against KES 2.0bn on offer, a subscription rate of 84%. The government accepted KES 1.4bn, or 86% of what was bid.
Over the past year the 91-day rate has ranged from 8.954% to 20.799%.
What this means for KES 100,000
Worked from the published rate · information, not advice
KES 2,268 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 102,268 after 3 months: KES 2,268 in interest after 15% withholding tax (KES 2,669 before), about KES 756 a month.
That is KES 29 more 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 102,268 baada ya miezi 3: riba ya KES 2,268 baada ya kodi ya zuio ya 15% (KES 2,669 kabla ya kodi), yaani takriban KES 756 kwa mwezi.
Hiyo ni KES 29 zaidi 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 | 10.675% | 10.537% | KES 2.00bn | KES 1.68bn | 84% | KES 1.45bn | 97.408 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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