The Croatian Finance Ministry sold 190 million kuna (€25.7 million) and €28 million worth of treasury bills in an auction on Tuesday. The ministry had offered 400 million kuna and €20 million worth of treasury bills, equivalent to the amount of treasury bills due to mature.

Financial institutions had submitted bids worth 190 million kuna and €28 million euros, and the ministry accepted them all.

The one-year euro treasury bills were issued at a zero interest rate. This was the first time that euro treasury bills had been issued at this rate, thanks to the high liquidity in the domestic financial sector.

Since €20 million euros falls due, the balance of subscribed treasury bills has now increased by €8 million to €70.2 million. The kuna-denominated treasury bills were also issued with a maturity of one year, at an average interest rate of 0.09 percent, unchanged from the previous eight auctions.

With 400 million kuna worth of treasury bills maturing, the balance of subscribed kuna-denominated treasury bills decreased by 210 million kuna to 19.23 billion kuna (€2.6 billion).

(€1 = 7.38 kuna)

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