ZAGREB, Oct 14 (Reuters) - Croatia's finance ministry said on Tuesday it had raised only 75 million kuna ($14.29 million), or 125 million kuna less than its targeted amount, at its weekly auction of treasury bills, with unchanged yields.
It was the third consecutive auction at which the finance ministry failed to raise the targeted amount.
Yields on the longest-maturity 364-day bills remained flat at 6.00 percent. The 91-day and 182-day bills were not auctioned again. The 91-day bills were last auctioned two weeks ago, while the 182-day bills were last offered in early September.
Some 288 million kuna worth of T-bills mature later this week.
Market participants expected interest in the auction to be subdued given liquidity strains and as interest rates were lower than those on the local money market. The one-year interest rate in interbank trade was at 7.65 percent on Tuesday.
The government's short-term debt fell to 10.02 billion kuna from 10.23 billion kuna after the auction. Almost all of the new issues went to banking investors, the ministry said.
Auction details on page.
The next auction will be held on Oct 21, when the ministry will offer investors subscription worth 400 million kuna.
(Reporting by Igor Ilic, Editing by Swaha Pattanaik) ($1=5.248 Croatian Kuna) Keywords: MARKET CROATIA/TBILLS
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.