An auction on placement of short-term notes of the Central Bank of Azerbaijan will be held at the Baku Stock Exchange on December 29, 2021, Trend reports with reference to the Baku Stock Exchange.

According to the message, the orders will be collected during the auction from 11:00 (GMT+4) to 11:30 (GMT+4).

The total number of applications submitted by each bank during the auction must not exceed two (1 competitive and 1 non-competitive) while the nominal number of applications must not exceed the number of notes put up for auction.

The non-competitive orders are allowed to be made if they do not exceed 20 percent of the issue of notes. If the demand at the auction exceeds the supply, the supply may be increased by the issuer up to a maximum of 20 percent of the amount originally put up for the auction.

Settlements on the deals concluded as a result of the auction will be carried out in the T + 0 mode. The price range of the submitted bids is 99.4397-99.5351.

Only local banks operating on the basis of a license can act as buyers of short-term notes of the Central Bank of Azerbaijan.

Source: Trend News Agency