SBP raises Rs589bn in MTB, PIB auctions

August 6, 2025 (MLN): The State Bank of Pakistan (SBP) auctioned government securities worth Rs589.48 billion through T-Bills and Floating Rate PIBs.

A combined target of Rs550bn was set for this auction out of which Rs150bn was for the 10 year Floating Rate PIB while Rs400bn was divided equally among 1, 3, 6 and 12 month MTBs whereas the Maturing amount in MTB’s was Rs544bn.

In the MTB auction, SBP received bids worth Rs1.64 trillion, out of which Rs1.002tr was for the shortest tenor of 1 month. Bid amount for 3, 6 and 12 months was Rs238.75bn, Rs158.9bn and Rs241.18bn.

Of the above, the SBP accepted Rs33.38bn for 1 month, Rs50.162bn for 3 months, Rs33.06bn for 6 months and Rs65.18bn for 12 months.

The cut-off yields increased across all tenors, with the 1-month yield increasing by 4.90 bps to 10.8996%, the 3-month increased by 14.51 bps to 10.8502%, the 6-month increased by 16.90 bps to 10.8739% while the 12-month registered the highest bump in yields with 29.99 bps to 10.9999%.

In addition to the SBP picked up an additional Rs204.35bn from non-competitive bids, making the total amount accepted in the MTB auction Rs386.133bn.

In the Floating Rate PIB auction, the SBP received bids of Rs539.2bn out of which it accepted Rs199.2bn at a cut-off price of 94.8526.

In addition, SBP picked up Rs4.15bn in non-competitive bids making the total accepted amount Rs203.35bn.