Poland wants to issue Treasury bills regularly in coming months - Dep. FinMin
Poland's Ministry of Finance wants to issue Treasury bills on a regular basis in the coming months, deputy finance minister Jurand Drop told journalists behind the scenes at the European Capital Markets Forum.
Asked if the finance ministry will conduct regular Treasury bill issues in the coming months, Drop said: "Yes, there will be regular issues of bills, every month. We want to always do it regularly for the foreseeable future, it does the financial market good."
"The scale is tailor-made, optimised as a result of calculations. Therefore, I think it will be regular. I won't say if it's at the same scale, it depends on the interaction with bond issues, the state of the market. We will listen to the market and adjust our issuances," he added.
As the deputy finance minister pointed out, Treasury bill issues by the ministry are a response to market demand.
"(...) Market participants have said (...) for a long time (...) that to improve the liquidity of the market and of those companies that trade in financial instruments, for them, a short-term instrument with high credibility is necessary to optimise their portfolios. In view of this, this was the only reason," said Drop.
Asked if the issuance of bills would only take place on the domestic market, Poland's deputy minister of finance replied: "We are not planning another one at the moment."
Drop said that the finance ministry wants to regularly go out with issues to foreign markets.
"We regularly participate in issues on foreign markets, we have up to 25 percent written in the strategy which is slightly less," he reported, adding that Poland will continue to participate regularly in issues on foreign markets.
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